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.

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.

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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