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Netplay TV expects year end results ahead of market expectations

Netplay TV expects year end results ahead of market expectations

Interactive gaming specialists Netplay TV (LON:NPT) expects its year end results to be ahead of market expectations after it reported a strong performance in the third quarter this year.

Following on from a positive first half, the firm's performance has continued to improve, it said in today's trading update.

It saw a 57.3 per cent increase in new casino players to 24,686 in Q3 this year compared to 15,691 players for the third quarter in 2010, it revealed.

The firm added that it was continuing to pursue methods of increasing revenues from its 31.5 hours of terrestrial TV per week - particularly by acquiring new customers directly via mobile.

"This strategy is proving to be effective with Supercasino mobile revenue up over 500 percent on Q3 2010," it said.

"This significant increase in mobile revenue is the result of the introduction of our new iPhone application in Q3 2010, and supports the company's strategy of acquiring customers directly into the iPhone via the TV."

Netplay is also focusing on how to maximise players acquired through the post midnight teleshopping TV window, and during Q3 said it carried out  tests on pre-midnight TV advertising spots which produced positive results.

The company said it will be further increasing marketing expenditure on TV advertising in the fourth quarter.

In August this year, the company revealed that it had turned a corner, into profitability, as it released its results for the six months to June 30 this year.

The group had endured a tough 2010 in which it had to restructure its business, after a new gaming format failed to live up to expectations. Netplay subsequently refocused its business on its core ‘live’ casino products.

During the first half, the company's revenues came in at £10.59 million, which is in-line with the same period last year. However earnings (EBITDA) and profits were much improved.

The group reported earnings of £1.69 million which represented a significant turnaround compared with the 0.84 million loss in the first half of last year. Similarly pre-tax profit came in a £0.37 million, compared to a £9.8 million loss in H1 2010.

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Netplay TV Plc Timeline

February 02 2017
September 13 2016
January 14 2016

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