Adjusted EBITDA grew by 7% to $68.5m from $64.2m, while its adjusted EBITDA margin in the quarter was 20.7% flat compared to the same period last year due to $2.4m of lower investment revenue and $1.9m related to the declining euro against the US dollar.
Global Funds Transfer segment total revenue was $308.3m, up by 9% from $283.8m in the second quarter of 2011.
Total revenue in the Financial Paper Products segment slashed by 16% to $21.5m in the current quarter period, down from $25.6m over the prior year ago second quarter.
MoneyGram International chairman and chief executive officer Pamela Patsley said the business performed well in a challenging environment through creative business initiatives and disciplined execution by the company’s global team.
"We achieved impressive growth in sends originating outside of the U.S. and built upon our positive momentum from the first quarter despite the impact of the declining euro, economic malaise in southern Europe and high global unemployment," Patsley added.
