NetPlay TV ‘in line’ with expectations despite 2014 losses
UK-based interactive gambling company NetPlay TV has confirmed that despite having suffered slight year-on-year losses across key financials during 2014, results were in line with expectations.
Full-year revenue at the firm amounted to £27.4 million (€37.8 million/$40.6 million), down from £28.5 million in the previous year.
Adjusted earnings before interest, tax, depreciation and amortisation slumped from £5.2 million in 2013 to £3.6 million in the past 12 months.
Elsewhere, adjusted earnings per share of 1.09 pence in 2014 was down from 1.68 pence per share in the previous year.
However, cash and cash equivalents at year end were up from £13.9 million to £14.2 million.
NetPlay TV has also proposed a 10% increase in total dividend to 0.55 pence per share as a result of increasing the proposed final dividend to 0.33 pence per share.
"We are pleased to announce that the group performed in-line with market expectation in 2014," NetPlay TV chief executive Bjarke Larsen said.
"Whilst the full environmental impact of the Point of Consumption duty on the industry is yet to be seen, we are confident with our post-POC operational strategy and believe the group is in a strong position for opportunistic M&A.
"We look forward to the year ahead with confidence and to creating long term value for our shareholders."
Meanwhile, NetPlay TV has also opted to extend its partnership with UK commercial broadcaster Channel 5 until the end of 2018.
Under the agreement, NetPlay TV will benefit from pre-midnight advertising, in addition to its existing post-midnight teleshopping airtime.
The deal also make provisions for new brands and show formats, which NetPlay TV said would help further its product offering and brand awareness.
NetPlay TV’s SuperCasino brand has featured on Channel 5 every night since September 2009, producing more than 70 hours of live television each month.
"TV is at the core of our marketing strategy, and continues to be an important and unique source of customer acquisition for the group," Larsen said.
"The strengthened deal and relationship with Channel 5 creates an effective platform from which we can increase the reach of our brands.
"It is our intention to develop new show formats for brands under the NetPlay umbrella, which will continue the trajectory of our brand awareness and broaden their appeal."
Agostino Di Falco, commercial director of Channel 5, added: "Six years on we are pleased to be in a position to enter into a new agreement with NetPlay taking the partnership to the end of 2018.
"We are particularly encouraged by NetPlay's desire to take full advantage of its airtime through the development of new show formats which will create further value for the partnership."
Related article: NetPlay TV hands Larsen permanent role as CEO