Netplay TV pays maiden divi as profit rockets
Gambling firm Netplay posted a five fold increase in half year pre-tax profit following a sharp increase in new customer sign-ups and said the third quarter has started on strong footing.
Gambling firm Netplay posted a five fold increase in half year pre-tax profit following a sharp increase in new customer sign-ups and said the third quarter has started on strong footing.
Pre-tax profit increased to £1.61m for the six months ending 30th June 2012 compared to £0.27m for the same period a year earlier. Revenue rose by a third to £13.02m.
The interactive gaming company, which operates a 24-Hour Freeview channel, is paying a maiden interim dividend of 0.15p per share.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Ebitda increased by 49% to £2.35m while diluted earnings per share on continuing operations rose to 0.55p from 0.09p in 2011.
New depositing customers increased by 74% to 24,951 and total active depositing players increased by 51% to 36,730 following increased marketing expenditure and TV advertising.
Netplay added that strong trading had continued into the third quarter with average daily revenue up 28% on the same period last year. As a result full year EBITDA is expected to be ahead of current market expectations.
Commenting on trading CEO Charles Butler said: "We have continued to see an increase in active depositing casino players and further investment in marketing has made a significant impact."
"We are delighted to announce our maiden interim dividend which is a demonstration of the Board's confidence in NetPlay's business model. The company has had a strong start to 2012 and expects year end EBITDA to be ahead of current market expectations."
CJ
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published