Bjarke Larsen, chief executive of NetPlay TV has paid tribute to the company’s ongoing strategy in the six months through to June 30 after revealing that its key performance indicators (KPI) remained “strong” during the period.
Revenue in the first half totalled £12.7 million (€17.3 million/$19.6 million), down from £14.5 million in the corresponding period last year.
Adjusted earnings before interest, tax, depreciation and amortisation increased from £600,000 in the first half of 2014 to £1.3 million this year on a like-for-like basis.
Elsewhere, marketing expenditure was cut 25% year-on-year from £7.1 million to £4.5 million, while cash and cash equivalents increased from £14.3 million to £15.8 million.
NetPlay TV also noted that adjusted profit after tax was down from £2.1 million in the first half of last year to £1.1 million in the opening six months of this year, while reported profit before tax also dropped from £1.2 million to £200,000.
However, the company also highlighted the success of its KPIs in the period, with new depositing players up 21% year-on-year to 42,305, while active depositing also jumped 13% to 63,411.
“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,” Larsen said.
“In a post-Point of Consumption tax market, our strategy to focus on TV-led customer acquisition, supported by digital marketing, has proved successful.
“We’re excited about the opportunities that the acquisition of Otherside Inc. brings to the group initially providing a profitable revenue stream whilst adding to our capability in driving traffic to NetPlay’s brands once the integration is complete.
“This alongside the group’s solid marketing performance and opportunistic acquisition strategy supported by a robust cash position gives us confidence for the year ahead and beyond.”
source : www.igamingbusiness.com
