Internet betting firm NetPlay TV has released their first half 2016 financial results, noting a 15% surge in gaming revenues.
Key financial indicators for the half ending June 30th, 2016 were:
-15% increase in net revenue to £14.7m (H1 2015: £12.7m) - 3% increase in new depositing players to 43,723 (H1 2015: 42,305) - 3% increase in active depositing players to 65,200 (H1 2015: 63,411) - Adjusted EBITDA* increased 31% to £1.7m (H1 2015: £1.3m) - Adjusted profit before tax† increased 30% to £1.4m (H1 2015: £1.1m) - Adjusted earnings per share increased 30% to 0.52 pence per share (H1 2015‡: 0.40 pence per share) - Reported profit before tax and total comprehensive income of £1.0m (H1 2015: £0.2m) - Cash and cash equivalents of £9.0m (H1 2015: £15.8m) after one-off payments in relation to the special dividend declared at the time of the FY2015 results (£2.2m). - Strong contribution from the B2B operating segment with £2.1m of revenue and £0.4m to adjusted EBITDA
Corporate highlights for the period were:
- Key broadcast relationship with ITV extended for a further three years - Significant roll out of new content and titles across mobile and desktop platforms which widens the product offering for our B2C customers B2B operating segment performing ahead of expectations.
Commenting on his company's performance NetPlay TV CEO Bjarke Larsen said, These results show that the momentum delivered in the last year has continued into 2016 and we are very pleased to be reporting growth in overall Group revenue and profit."
"The Group's operational performance in the period has also been significant with not only the renewal of the ITV relationship, but also product enhancements, new site roll-outs and, post period, the launch of the AppleTV application."
"We set out our growth strategy at the beginning of the year and are focused on continuing to deliver against this. There has been significant M&A activity in the industry, and the Group, with its solid balance sheet, is well placed to pursue those opportunities that the board believes will be earnings enhancing."