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MEDIA CORP RELEASES STRONG Q1 RESULTS
Posted 2/1/11 : Online poker and casino business shows 15.1 percent increase
Online gaming and media group, Media Corporation Plc (Media Corp) showed a strong start to its current financial year with a trading update for first quarter - 1 October 2010 to 31 December 2010.
The company reports that both its advertising network, Eyeconomy and purple-lounge.com, the groups online poker and casino business have traded profitably in the period.
- Group revenues increased 21.7 percent to GBP 5.6 million (Q1/2010: GBP 4.6 million)
- Purple Lounge revenues showed an increase of 15.1 percent to GBP 3.8 million (Q1/2010: GBP 3.3 million)
- Eyeconomy Revenues increased to GBP 1.6 million (Q1/2010: GBP 1.2 million) an increase of 33 percent
A spokesman confirmed that negotiations for the purchase of the domain Gambling.com are ongoing with a number of parties and the sale should be complete during the second quarter of the financial year.
Justin Drummond, Media Corporation's CEO, commented:
"This is another strong performance for the first three months of the new financial year. We are extremely positive about the outlook for the year and we look forward to providing further updates in the near future."
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