LONDON (ShareCast) - Payments service provider DataCash swung into profit for the year and added that the start of 2008 had exceeded expectations.

“The prospects for DataCash for 2008 are good and the first quarter has matched our expectations,” it said.

Pre-tax profit for the year came in at £6.8m compared with the £14m loss last year, hampered primarily by a hefty exceptional charge.

Before exceptionals, pre-tax profit increased 43% to £11.2 on turnover that rose 25% to £20.45m.

Andrew Dark, currently the chief operating officer, will become the chief executive of with effect from June 1st.

“We see the growth of e-commerce, both in the UK and internationally, will continue to be strong, and that the continued attempts from organised crime to use card fraud as a prime source of income will maintain the heightened demand for our global Risk services offer,” said the group.

Total dividend payment was increased by 40% to 1.4p per share.

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