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Internet wagering software designer Playtech plc has released its first half 2013 financial results, noting higher revenues and increased gross income.
Key financial indicators for the period ending June 30th, 2013 were:
Gross income (total revenue plus income from associate) up by 10% to €194.9 million (H1,2012: €176.5 million)
Total revenues up by 15% to €176.8 million (H1,2012: €153.8 million)
Adjusted EBITDA up 3% to €94.3million (H1,2012: €91.2 million)
Underlying adjusted EBITDA up 13% to €78.9 million (H1,2012: €69.8 million) (exc. WHO-Skywind)
Adjusted net profit up 0.5% to €84.9 million (H1,2012: €84.5 million)
Underlying adjusted net profit up 11% to €69.7 million (H1,2012: €62.8 million)
Underlying adjusted EPS up 10% to 23.9 Euro cents (H1,2012: 21.7 Euro cents)
Interim dividend of 7.8 Euro cents per share, maintaining the same per share level as last year.
Cash balances at 30 June 2013 of €576.2 million (H1,2012: €139.3 million)
Operational highlights for the half year included:
Landmark agreement with Ladbrokes to provide a full product suite and innovative marketing services from 1 May 2013, followed by the launch of the Vegas tab in July
Bolt-on acquisition of PokerStrategy.com, complementing Playtech's poker offering and PTTS marketing division
Betfair's migration onto the iPoker network successfully completed in June and Playtech bingo launched
Launch of live gaming in Spain in partnership with Casino Gran Madrid
Paddy Power migrated its live Casino to Playtech in April with a dedicated facility
Further penetration into regulated markets including France, Mexico and Spain
Geneity's sports platform is gaining significant traction and signed a number of new licensees
Various industry awards
Commenting on his company's performance Playtech Non-Executive Chairman Roger Withers said, "Once again Playtech's tenacity and drive have been demonstrated in these results as it has focused on deepening its licensee relationships; creating innovative new content; and providing its customers with cutting edge products and services."
"As online gaming continues to focus on mobile, it is pleasing to see our investment in this increasingly important market paying-off across many product areas. I am pleased to announce an interim dividend of 7.8 Euro cents. The company continues to capitalize on its customer-focused strategy and strong balance sheet: Playtech can look to the future with confidence and optimism."