News and Press Releases:


NETELLER PLC Third Quarter Trading Update

E-wallet growth continues despite tough markets - Solid balance sheet provides platform for opportunistic investments

Friday, 31 October 2008 – NETELLER Plc (LSE: NLR), the independent global online payments business, is pleased to provide a trading update in respect of its performance during the third quarter to 30 September 2008.

Highlights

  • E-wallet continues to show growth, with revenue up 27% from Q3 2007, at $13.0 million.
  • European revenue (including NETBANX) was $12.1 million, an increase of 20% from Q3 2007; Asia Pacific (including NETBANX Asia) grew 61% to $4.9 million over the same period.
  • Active e-wallet users totalled 97,447 in Q3 2008, up 3% from Q3 2007.
  • E-wallet revenue per active e-wallet user continued to improve, reaching $134 in Q3 2008, up 23% from $109 in Q3 2007 and up 3% from Q2 2008.
  • Average daily sign ups and average daily receipts in Q3 2008 showed growth of 3% and 31% respectively from Q3 2007.
  • Gross margin of 60% (Q2 2008: 61%) and operating income of $3.8 million (Q3 2007: $2.7 million).
  • Solid balance sheet at 30 September 2008 with $89.4 million cash and cash equivalents.
  • Launch of Net+ prepaid physical and virtual cards to Group’s existing e-wallet users.
  • Proposed renaming of Group to NEOVIA Financial Plc subject to shareholder approval.

Ron Martin, President & CEO, commented “Despite the challenging economic environment, the Group has continued to show underlying growth in its core e-wallet business both in Europe and Asia Pacific.  Our efforts to target key merchants with our integrated Payment Suite are beginning to bear fruit and we have improved our consumer offering with further enhancements to the e-wallet and the launch of our Net+ prepaid cards.  The current market conditions are producing a number of interesting investment opportunities which we are actively pursuing and we hope to provide further updates in due course.   We anticipate the core business will continue growing into the fourth quarter, and the Board believes the Group is on track to meet current market expectations for the full year.”

The Company is holding an extraordinary General Meeting in the Isle of Man on Tuesday 11 November 2008 to approve the change of name of the Company to NEOVIA Financial Plc.  For further information, please visit http://www.neteller-group.com/doorway/neovianamechange.html.

For the full release in PDF format, please click here.


About NEOVIA Financial Plc

Trusted by consumers and merchants in over 160 countries to move and manage billions of dollars each year, NEOVIA Financial Plc operates the world's leading independent online payments business. Through its Payment Suite, featuring NETELLER®, NETBANX®, Net+™ and 1-PAY™ brands, NEOVIA specialises in providing innovative and instant payment services where money transfer is difficult or risky due to identity, trust, currency exchange, or distance. Being independent has allowed NEOVIA to support thousands of retailers and merchants in many geographies and across multiple industries.

NEOVIA Financial Plc is quoted on the London Stock Exchange’s AIM market, with a ticker symbol of NEO. Subsidiary company NETELLER (UK) Limited is authorised by the Financial Services Authority (FSA) to operate as a regulated e-money issuer. For more information about NEOVIA Financial visit www.neovia.com or subscribe at www.neovia.com/feeds/.

Media and Investor Contacts

NEOVIA's media relations can be contacted through the Media Relations Contact page. NEOVIA investor relations are managed by Citigate Dewe Rogerson. Contact them through the Investor Relations Contact page.