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PERFORM PROFITS PLUNGE IN 2013
Wednesday March 5,2014 : PERFORM PROFITS PLUNGE IN 2013
75 percent decline in pre-tax profits attributed to higher costs in a bad year, says digital sports media firm.
The Perform Group, a digital sports media company in the UK, posted a shocker of an annual report this week, reporting a 75 percent year-on-year decline in pre-tax profits, which it blamed on rising costs and a tough business year.
For the year ended December 31 the company reported revenues up by 37 percent to GBP 208 million, but pre-tax profit plummeting to GBP 4.1 million (FY 2012: GBP 16.3 million).
EBITDA was impacted, falling 3 percent to GBP 36.4 million, prompting CEO Oliver Slipper to observe:
“Notwithstanding strong growth in revenues our financial performance in 2013 was disappointing. We made good progress on executing against our strategy notably with the acquisition of Opta, which significantly enhances our existing sports data offering, and the launch of Perform Sporting News, a top seven US digital sports media property.
“However, the performance in the second half, notably in Display Advertising and Sponsorship in Q4, was significantly below our expectations.
“The Group's rapid expansion has also led to a significant increase in our cost base. We are now taking the opportunity to address this and have already put in place a series of plans and initiatives."
On the brighter side, Perform’s Watch&Bet service for bookmakers increased its number of licensees by six to 46, and the company achieved a 12 percent increase in events streamed - an additional 16,543 were delivered through Watch&Bet.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Big Online SLot Win on Ultimate 10X Slot -
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