Netplay TV upbeat on H1 performance

UK interactive gaming firm NetPlay TV plc posted encouraging interim results for the six months ending 30 June 2016.

Key Performance Indicators for the six month period ending June 30 2016 include:

– 15 percent increase in net revenue to GBP 14.7 million (H1/2015: GBP 12.7 million)

– Adjusted EBITDA increased 31 percent to GBP 1.7 million (H1/2015: GBP 1.3 million)

– Adjusted profit before tax increased 30 percent to GBP 1.4 million (H1/2015: GBP 1.1 million)

– Adjusted earnings per share increased 30 percent to 0.52 pence per share (H1/2015[‡]: 0.40 pence per share)

– Reported profit before tax and total comprehensive income of GBP 1.0 million (H1/2015: GBP 0.2 million)

– Cash and cash equivalents of GBP 9.0 million (H1/2015: GBP 15.8 million) after one-off payments in relation to the special dividend declared at the time of the FY2015 results (GBP 2.2 million).

– Strong contribution from the B2B operating segment with GBP 2.1 million of revenue and GBP 0.4 million to adjusted EBITDA

– 3 percent increase in new depositing players to 43,723 (H1/2015: 42,305)

– 3 percent increase in active depositing players to 65,200 (H1/2015: 63,411)

The company is upbeat on its future prospects following the extension of a key broadcast relationship with ITV for a further three years along with the roll out of new omni-channel content.

“These results show that the momentum delivered in the last year has continued into 2016 and we are very pleased to be reporting growth in overall Group revenue and profit,” Bjarke Larsen, chief executive officer of NetPlay TV said.

“We set out our growth strategy at the beginning of the year and are focused on continuing to deliver against this. There has been significant M&A activity in the industry, and the Group, with its solid balance sheet, is well placed to pursue those opportunities that the board believes will be earnings enhancing.”

On the back of the results, the company announced an interim dividend of GBP 0.22 pence/share (H1/2015: 0.22 pence/share).