32Red does it again
News on 12 Sep 2013
News on 12 Sep 2013
Online casino operator 32Red has posted another impressive set of half-yearly results, reporting record performance numbers in H1-2013.
Highlights of the report included:
* Strong growth in mobile operations, which now deliver 17 percent of revenue – well up from 8 percent in the comparable period last year.
* Total sales up 15 percent year-on-year to GBP 19 million.
* A 34 percent increase in active casino players to 42,455.
* Underlying EBITDA soared 39 percent from GBP 1.8 million to GBP 2.5 million.
* Profit before tax up 12 percent to GBP 1.3 million (H1-2012: GBP 1.2 million).
* Earnings per share up 11 percent.
* Cash on hand at end June 2013 of GBP 6.4 million – up 60 percent y-o-y.
Current trading has started well with revenues up 27 percent compared with the same period last year.
Chief Executive officer Ed Ware said:
“Our strategy remains to invest in marketing to regulated markets with a constant focus on maintaining the best user experience enjoyed by new and existing players alike.”
He added that the company’s recent sponsorship of a leading Italian football team would help its efforts in the Italian market.
“While early trading in the Italian market has been slower than expected, there continues to be month on month improvement and with our new Bologna partnership, we remain confident that Italy will develop into an important and lucrative market for 32Red,” Ware said.
