QIWI Q1 Profit Grows - Quick Facts

(RTTNews) - QIWI plc (QIWI), a provider of payment services in Russia and the CIS, Wednesday reported a sharp increase in net profit as well as revenues for the first quarter.

For the three months to March, net profit increased to $19.19 million or $0.37 per share, from $9.9 million or $0.19 per share a year earlier. Excluding certain items, profit stood at $22 million or $0.41 per share, compared with $12.7 million or $0.24 per share a year ago.

First-quarter revenues rose to $91.33 million from $70.9 million a year ago. Total payments volume rose to RUB 149.6 billion from RUB 124.5 billion a year earlier.

For 2014, the company raised its guidance for adjusted earnings and revenues. It now expects adjusted earnings to grow by 27 to 29 percent (prior guidance was for 25 to 27 percent growth) and adjusted revenues to increase by 24 to 26 percent (prior guidance 20 to 22 percent).

The company said the board has recommended a dividend of 29 cents per share to shareholders on record June 1, payable on June 3.