Why the EML Payments (ASX:EML) share price is still pushing higher

The EML Payments Ltd (ASX: EML) share price is still on the rise today after finishing off yesterday as the best performer in the ASX 200. 

It's presently up 6.8% to trade around $5.24 a share.

While the EML Payments share price continues going up, let's take another look at the HYFY21 results.

EML Payments share price explodes after these results

EML Payments increased its revenue during the HYFY21 period by 61% to reach $95.3 million.

The company's HYFY21 gross profit jumped by 50% to $67.3 million.

Underlying operating cash inflows totalled $35.1 million.

The EML Payments Group expects FY21 earnings before interest, tax, depreciation and amortisation (EBITDA) to be in a range of $50 million to $54 million.

This represents a growth of between 54% and 66% when compared to the HYFY20 EBITDA of $32.5 million.

The company finished off the period with $136.5 million cash on hand, with no secured debt.

Director comments

Discussing company operations during HYFY21 Chairman of the Board, Peter Martin, said:

"Maintaining momentum during tough times is a real challenge for all companies. The team at EML has generated record results for the Group whilst revitalising EML's strategy and undertaking the integration of PFS. This has happened whilst dealing with the impacts of COVID-19 in key markets, plus Brexit in the UK, with most of our people working remotely. A tremendous effort…

In summary, EML is successfully trading through one of the worst periods in global economic and social memory. As COVID-19 impacts recede with the introduction of vaccines in 2021 and beyond, EML is ideally placed to take advantage of the explosive growth in the payments industry around the world. Our financial results should continue to reflect that opportunity."

EML Payments wrap up

EML Payments provides payment solutions in Australia offering payment technology solutions for payouts, gifts, incentives and rewards, and supplier payments. 

The company issues mobile, virtual, and physical card solutions around the world and manages more than 3,500 programs across 26 countries in North America Europe and Australia.

The EML Payments share price is up 17.2% year-to-date.