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Q1-2013 Results for Perform Group
Tuesday April 30, 2013 : PERFORM DELIVERS STRONG FIRST QUARTER RESULTS
Remainder of the year ahead looks bright
Digital sports media group Perform Group plc issued its interim management statement for the three months ending March 31, 2013.
Year on year revenue growth of 37 percent to GBP 43 million (Q1/2012: GBP31.4 million).
GBP 154 million of revenue contracted for full year 2013 (GBP 104 million of 2012 revenues were contracted at the same point in time in 2012).
ePlayer headline quarterly sell through rate of 43 percent, total quarterly streams viewed 1.1 billion and average monthly unique users of 118 million. (Q1/2012: sell through rate of 28 percent, 1.2 billion total streams and 105 million unique users).
Perform said a deferred consideration of GBP 50 million was paid to the owners of RunningBall as maximum EBITDA targets were achieved. Pre-agreed debt facilities including Euro 30 million term loan and GBP 20 million revolving credit facility were both drawn down.
Oliver Slipper, Joint Chief Executive Officer, commenting on the results said: "We are pleased to report that our good performance has continued in Q1, with year on year revenue growth. GBP 154m of revenues are contracted for 2013 and we are on track to deliver another year of strong growth.
"We continue to execute against our strategy for growth, acquiring new content and expanding our geographical footprint and we continue to seek acquisition opportunities as we build the business to deliver long term sustainable growth.
“During the quarter we announced the creation of Perform Sporting News, which brings together our leading online sports video offering in the US and Canada with one of the US's flagship sports media brands to a create a top five US digital media player. The US and Canada are two of the world's largest digital marketplaces and we believe this is a fantastic opportunity to scale and transform our business in these territories."
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