IMPRESSIVE PERFORMANCE FROM LIVE GAMBLING FIRM
30th August, 2011 at 14:01:37
Strong growth and revenues up 47% at Perform Group plc
Perform Group, a live streaming provider that numbers Watch&Bet among its products has produced a useful set of half-yearly results showcasing a 47% rise in revenues compared to its previous H1 reportage in 2010.
The company also reports that the number of operators using its products has grown from 23 to 30 over the six months to June 30 covered by the report when compared to the same period last year.
Other highlights included:
* ePlayer now established in 18 countries (H1 2010: 10) with a strong growth in audience. The product is top in the June Comscore sport video ratings in UK, France, Germany, Turkey and Italy, no. 2 in Spain and no. 6 in the US.
* 25 Livesport.tv channels launched, including Live Dutch Ere Divisie.tv and Liveafl.tv.
* Strong growth in technology and production revenues driven by new customers including Abu Dhabi Media Company and Premiership Rugby.
* Significant increase in the company's digital rights portfolio, with over 10,000 live events under contract for 2011. New rights acquired in H1 included: Copa America, Turkish Super Lig, over 20 ATP Challenger Tour Events and World Snooker, with the majority on multi-year deals.
* Continued geographical expansion underway with the ePlayer launched in Korea and Turkey during Q2, and Japan in August. Revenues from outside UK increased from 61% in H1-2010 to 69% in H1-2011.
* Continued development of new products and new platforms. In H2-2011 the company plans to launch a number of connected television applications for Goal.com and Livesport.tv.
* Integration of Goal.com, acquired in February for $30 million, successfully completed.
Management reported that H2-2011 has started well with July and August showing strong revenue and EBITDA growth, and over £90 million in full year revenues already contracted. It is anticipated that there will be a significant improvement in EBITDA margin to circa 21% expected in H2-2011, driven by further revenue growth and operational leverage.
Oliver Slipper, joint chief executive officer of Perform Group plc commented:
"We are delighted with the progress Perform has made since coming to market, as we continue to successfully execute the growth strategy we set out to investors.
"We have added further great sporting content to our rights portfolio, expanded into new territories, developed and delivered new products across new platforms and completed the acquisition and integration of Goal.com.
"For the full year, based on our exceptional revenue visibility, we remain very confident that we will deliver strong full year revenue and EBITDA growth in line with the Board's expectations."
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