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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 :
Alegriabet Finally Launches -
Our online betting site will deliver a full, market-leading suite of services including pre-match and live betting as well as virtual sports
International Table Tennis Federation in deal with Sportradar. -
The International Table Tennis Federation (ITTF) has today announced it has signed a brand-new integrity partnership with Sportradar utilising the organisation’s world-leading monitoring, intelligence and prevention solutions to help safeguard the sport against match fixing.
NBA odds on Thunder vs. Pacers Game? -
This Wednesday night in Indianapolis, Paul George is due to play his first game at the Fieldhouse as a member of the Oklahoma City Thunder (12-13 SU, 8-17 ATS). But George might not face the Indiana Pacers (15-11 SU, 16-10 ATS); he’s listed as day-to-day with a right calf contusion. Tip-off is at 7 PM ET on ESPN.
2 New Christmas Slots For Microgaming -
Microgaming’s jolly game additions this December. Microgaming adds two more games to kick off the festive season, in addition to its action-packed Highlander online slot.
SportsBetting Supreme Court Showdown -
Sports Law, Betting and Integrity leaders convene to preview Supreme Court Showdown. Thought leaders weigh in on Christie vs. NCAA (which in January will shift to Murphy vs. NCAA)
NBA Odds: Heat Can Burn Cavaliers in Cleveland -
The Cleveland Cavaliers (12-7 SU, 6-12-1 ATS) may have turned their season around, but they’ve got a challenging matchup this Tuesday against the Miami Heat (9-9 SU, 7-9-2 ATS), tipping off at 7 PM ET on NBA-TV. Miami is 7-4 SU and 6-5 ATS against the Cavs since LeBron James went back to Cleveland in 2014.
Games Concept Day in Malta -
The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.
AFC’s fight against match-fixing -
The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.
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