Eitan Boyd, chief executive of Stride Gaming, has cited the company's expanding social gaming operation as one of the main reasons behind year-on-year growth across key finances during the six months to February 29.
Net gaming revenue in the first half totalled £21.6 million (€27.9 million/$31.3 million), which represents an increase of 21% on the £17.9 million achieved in the corresponding period last year.
Adjusted earnings before interest, tax, depreciation and amortisation came in at £5.6 million, up 29% on the previous year, while adjusted earnings expanded by 42% to £5 million.
As a result, the firm was able to report a 16% increase in adjusted basic earnings per share to 9.8 pence, although basic earnings per share fell 103% to 0.1 pence.
“The group has delivered another period of robust growth; this has been achieved despite regulatory and tax headwinds and demonstrates the underlying strengths of our business, which include owning our own proprietary software, our multi-branded strategy and our highly experienced management team,” Boyd said.
“We have successfully integrated InfiApps, the mobile social gaming company, into the group, the acquisition of which complements the strong organic growth delivered in our core real money gaming vertical.
“Furthermore, we continue to view the increased regulatory environment as an opportunity for us to grow our market share and believe there are significant acquisition opportunities available.
“We will continue to monitor potential selective strategic acquisitions that support our existing operations or that allow us to expand into complementary verticals.
“Current trading is strong and we are well positioned to deliver exceptional results for the full year.”
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