Perform results posts strong results for 2012

Perform Group, which distributes sports content across connected digital platforms, increased its revenue by half in the full year ended December 31st, lifted by increased subscriber numbers and an improved sell through rate on its ePlayer service.

Revenue rose 47% from £103.2m to £151.6m year-on-year, while adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) doubled to £37.5m (2011: £18.5m).

Profit after tax leapt to £13.5m from £3.7m the previous year, while adjusted basic earnings per share climbed from 6.3p to 11.2p.

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The group was a 36% rise in subscribers to 510,000 (2011: 375,000) with the launch of new mobile services for Goal and Mackolik, as well as strong subscriber growth on third party services.

The sell through rate on its ePlayer service climbed 45% in the fourth quarter, compared to 35% in the same period in 2011.

Oliver Slipper, joint Chief Executive Officer of Perform Group said: "We are pleased to once again be reporting strong operational and financial performance. We have delivered these strong results at the same time as continuing to invest in the business to drive long-term sustainable growth.

"2012 was a breakthrough year for sport with London 2012 and Euro 2012 both achieving incredible digital engagement and illustrating the growing importance of the web, smartphones, tablets and social media for users worldwide to consume sports content. This transition of media consumption habits by sports fans globally plays to all the group's core strengths.

"We enter 2013 with increasing momentum driven by our operational performance and the structural drivers in our core growth sectors. We have significant visibility over full year revenues, with in excess of £130m already contracted, and remain confident that we will deliver full year revenue and EBITDA in line with the board's expectations.

"Looking further ahead the group is in a tremendous position to capitalise on the many exciting opportunities we see across all the markets it operates in."

The share price rose 0.43% to 416.80p by 10:00 Tuesday.

NR