Playtech PLC (LSE:PTEC) warned of the risk of disruption following Russia’s invasion of Ukraine, as the gambling software company that is at the centre of takeover interest posted higher revenue and profit for 2021.
The board is confident in the firm’s long-term prospects, said chairman Brian Mattingley, as he paid tribute to more than 700 of the company’s Ukrainian colleagues and their families.
Underlying earnings (adjusted EBITDA) jumped 25% to €317.1mln, while adjusted profit after tax soared 366% to €127.6mln from the year earlier period, the company said in a statement on Thursday. Revenue climbed 12% and Playtech said it had made an “excellent” start to this year.
The results come after a £2.7bln bid for the company by Australia's Aristocrat failed to get sufficient backing from shareholders. Discussions with the TTB investor group regarding its potential offer are “ongoing,” the company said.
“The macro-economic picture is of course uncertain, but we have started 2022 strongly, and with our businesses continuing to perform we are confident in our ability to continue to deliver against our strategy,” said chief executive officer Mor Weizer in the statement.