Veltyco delivers maiden dividend after 2017 success

Veltyco has proposed to pay its shareholders a maiden dividend of 0.25 pence per share after reporting widespread financial growth in 2017.

Revenue for the 12 months to December 31, 2017, totalled €16.2m ($19.2m), up 165% on €6.1m in the previous year.

Operating earning before interest, tax, depreciation and amortisation (EBITDA) also rocketed by 260% year-on-year to €8.1m.

Veltyco noted that operating EBITDA excludes the listing expenses it incurred in respect of the reverse merger completed during 2016 and share based payment expense.

Elsewhere, Veltyco said that it was able to raise €2.5m before expenses during the period to fund its acquisition of T4U Marketing.

Veltyco chairman Gilles Ohana said: “We are delighted with the progress achieved at Veltyco throughout 2017, which has delivered a very strong trading performance and enabled us to propose a maiden dividend.

“We have enjoyed a positive start to 2018 with revenues in the first quarter showing significant growth when compared to the corresponding period in 2017.

“Looking ahead, we see continued growth in 2018, both from our marketing activities, including the potential to expand our current sportsbook marketing activities into new territories, and our own brands, in particular Bet90, which is expected to be a key driver of this growth.”

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