Digital sports content platform group Perform registered impressive revenue growth in the third quarter and said that while there was some weakness in its Technology & Production division, it's still on track to hit targets this year.
Group revenues increased by 44% in the three months to September 30th, from £27.4m last year to £39.5m. That equates to 10% growth quarter-on-quarter.
"We are pleased to report that our strong operational and financial performance has continued through Q3, which reflects the successful execution of our growth strategy," said Joint Chief Executive Officer Oliver Slipper.
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"We have reported substantial increases in revenues and are making significant investments in additional content, new platform development and international opportunities as we build the business to deliver long term sustainable growth. We are on track to deliver full-year 2012 results in line with the board's expectations."
Perform commercialises multimedia sports content across internet-enabled digital platforms, driving revenues through a mix of Content Distribution, Advertising & Sponsorship and developing Subscription Platforms.
Content Distribution revenues jumped 47% on last year with a strong performance seen across all products, the group said. Advertising & Sponsorship revenues surged 56%, while Advertising & Sponsorship (display) saw growth of 132% - this was mainly due to the acquisitions of Spox and Mackolik and the continuing growth of Goal.com.Subscription revenues rose 20%.
However, Technology & Production sales fell 5% year-on-year and was slightly below the company's expectations with some contract slippage into the fourth quarter. This division accounts for around a tenth of group revenues.
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