ZEAL Network reports ‘excellent’ start to 2015

ZEAL Network, the online lottery firm that last year rebranded from Tipp24, has claimed that it has enjoyed an “excellent” start to the year after it recorded year-on-year growth across key financials during the three months to March 31.

Revenue in the first quarter amounted to €34.9 million ($39.2 million), which represents an increase of 13% on the €30.8 million posted in the corresponding period last year.

Elsewhere, earnings before interest and tax shot up from €1.3 million in the first quarter of 2014 to €14.1 million.

Net profit also jumped significantly from €109,000 last year to €9.5 million in the opening period of this year, while earnings per share hiked from just €0.01 to €1.13.

ZEAL also noted that under a revised dividend policy, the firm paid out its first interim dividend of €0.70 per share on March 31, which was in line with the plan to pay out total dividends of at least €2.80 per share in the current year.

Dr Hans Cornehl, chief executive officer of ZEAL, said: “Our strong first-quarter results confirm our positive outlook for the full year.

“Having laid the foundation for further growth in 2014, we are making good progress with our various business initiatives.

“With its three strategic business areas, ZEAL is well positioned to capitalise on opportunities in our target markets in Europe and North America.

“The payment of our first interim dividend for 2015 also underpins our commitment to attractive shareholder returns.”

source : www.igamingbusiness.com

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