Tuesday September 15,2015 : NETPLAY TV REPORTS HALF YEAR RESULTS
Revenue dips despite increase in new depositing customers.
NetPlay TV released its interim results for the six months ending June 30, 2015 posting a dip in revenue despite an increase in new depositing customers and a drop in marketing expenses.
Key Performance Indicators include:
– 21 percent increase in new depositing players to 42,305 (H2/2014: 35,102)
– 13 percent increase in active depositing players to 63,411 (H2/2014: 56,079)
– Net revenue of GBP 12.7 million (H2/2014: GBP 12.9 million)
– Average revenue per active depositing players across casino-only brands of GBP 273 (H2/2014: GBP 270)
– Adjusted EBITDA increased to GBP 1.3 million versus prior periods on a like-for-like basis (H2/2014: GBP 0.1 million)
– Betting and gaming duties expense of GBP 1.9 million (H2/2014: GBP 0.4 million following the introduction of the UK Point of Consumption duty
– Marketing expenditure reduced by 24 percent to GBP 4.5 million (H2/2014: GBP 5.9 million).
– Adjusted profit before tax of GBP 1.1 million (H2/2014: GBP 1.2 million) and reported profit before tax of GBP 0.2 million (H2/2014: loss of GBP 1.1m)
"We are very pleased to report our decisive action at the end of 2014 has delivered such a positive outcome with all of our KPIs holding strong,” Bjarke Larsen, chief executive officer of NetPlay TV said. “In a post POC market, our strategy to focus on TV-led customer acquisition, supported by digital marketing, has proved successful.”
The group looks forward to the opportunities its acquisition of Otherside Inc. will bring saying it provides an immediately profitable revenue stream whilst adding to its capability in driving traffic to NetPlay's brands.