NetPlay TV continues momentum as revenue and profit rise in H1
NetPlay TV has cited ongoing momentum and its operational performance as key reasons behind a year-on-year increase in finances during the six months to June 30.
Net revenue in the first half totalled £14.7 million (€17.4 million/$19.6 million), which represents a rise of 15% on the £12.7 million posted in the same period last year.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) was up 31% year-on-year to £1.7 million, with adjusted profit before tax also up by 30% to £1.4 million.
In addition, the number of new depositing players grew by 3% to 43,723, with active depositing players up 3% to 65,200.
Bjarke Larsen, chief executive of NetPlay, said: “These results show that the momentum delivered in the last year has continued into 2016 and we are very pleased to be reporting growth in overall group revenue and profit.
“The group's operational performance in the period has also been significant with not only the renewal of the [UK commercial broadcaster] ITV relationship, but also product enhancements, new site roll-outs and, post period, the launch of the AppleTV application.
“We set out our growth strategy at the beginning of the year and are focused on continuing to deliver against this.
“There has been significant M&A activity in the industry, and the group, with its solid balance sheet, is well placed to pursue those opportunities that the board believes will be earnings enhancing.”
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