NETPLAY TV DELIVERS FULL YEAR 2011 RESULTS

04/26/2012 : NETPLAY TV DELIVERS FULL YEAR 2011 RESULTS
 
Strength in live TV casino offering
 
Interactive gaming company NetPlay TV plc announced its preliminary results for the year ending December 31, 2011 showing a strong performance compared to the year prior.
 
Key Financial Indicators for the period include:
 
–     12.4 percent increase in Group revenue to GBP 22.3 million (2010: GBP 19.8 million)
–     18.6 percent increase in Casino Revenue to GBP 20.6 million (2010: GBP 17.4 million)
–     EBITDA from continuing operations GBP 3.4 million (2010: negative EBITDA of GBP 2.8 million)
–     Profit before tax GBP 0.6 million (2010: Loss before tax of GBP 14.2 million)
–     Operational cash flow of GBP 2.5 million (2010: negative GBP 3.8 million)
 
The company recently entered into a two year broadcast agreement with ITV  and its first quarter 2012 results have proven successful, a company statement said.
 
The company strategy going forward includes achieving growth in the existing UK market with a focus on customer acquisition and product development along with a push for expansion in select International markets.
 
Charles Butler, chief executive of NetPlay TV said: "We are very proud of the significant strategic and commercial progress made over the past year, and the robust results announced today illustrate the strength of the Company’s live TV casino proposition. We are looking forward to 2012 with confidence and expect to continue to build on the positive momentum and successful results of 2011.”