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Wirecard quarterly profit strength meets expectations – Source Reuters Tech News

FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo

BERLIN (Reuters) – Payments company Wirecard reported strong quarterly results in line with analyst expectations on Friday and reiterated guidance for core profit growth of 34% this year.

There was no update on an outside audit to address Financial Times allegations of fraud and false accounting that have dogged the Munich-based company over the past year. KPMG is due to report its findings by the end of March, Wirecard has said.

Chief Executive Markus Braun has denied the allegations, which were made in a series of investigations by FT reporter Dan McCrum and have prompted Singapore police to raid Wirecard’s local offices and sparked a legal battle between Wirecard and the newspaper.

The company’s shares, which have rallied by 28% since the…

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Source Reuters Tech News

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