JPJ Group Posts Third Quarter Financial Performance

Internet betting firm JPJ Group has posted their third quarter 2018 financial results, revealing that revenues rose 8% from the same time last year.

Key financial indicators for the quarter ending September 30th, 2018 were:

• Gaming revenues of £77.8 million, up 8% from last year, due in large part to revenues from the Vera&John brand
• JackpotJoy revenues down 3% to £52.1 million
• Adjusted EBITDA up 13% to £28.8 million
• Costs down slightly to 65.1 million
• Post-tax profit of £7.3 million, up from a loss of £8.2 million last year

Commenting on the results JPJ Executive Chairman Neil Goulden said, "We expect that the impact of closed accounts will begin to annualise during H2 2019 and, provided there are no further regulatory challenges, the Jackpotjoy segment will return to revenue growth thereafter."

"The Vera&John segment is once again the stand-out, with year-on-year revenue growth of 41% on a constant currency basis. The growth at Vera&John highlights our strategy of international diversification, with 44% of Group revenue generated outside the UK in Q3."

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