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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.
Gambling News :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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