Gvc Boosts Dividend 50 Percent; Reports Rising Revenues

GVC BOOSTS DIVIDEND 50 PERCENT; REPORTS RISING REVENUES

19th September, 2012 at 11:54:38
Source: http://www.azonlinecasinos.com

B2C and B2B divisions perform well in the first six months of 2012

GVC Holdings plc, a provider of B2B and B2C services to the online gaming and sports betting markets, has announced its Interim Results for the six months ended 30 June 2012.

Highlights include:

* 50% increase in interim dividend to 15 Euro cents per share (H1-2011: 10 Euro cents) - ahead of market expectations

* Euro 58 million returned to shareholders in the last 5 years, giving one of the highest returns in the industry

* 47% increase in revenues to Euro 29.1 million (H1-2011: Euro 19.8 million)

* Industry leading sports margins continue to be delivered

* 78% increase in contribution to Euro 17 million (H1-2011: Euro 9.6 million)

* 105% increase in EBITDA to Euro 7.9 million (H1-2011: Euro 3.8 million)

* 138% increase in operating profit to Euro 6.6 million (H1-2011: Euro 2.8 million)

* 76% increase in diluted EPS to Euro 0.134 (H1-2011: Euro 0.076)

Chief executive officer Kenneth Alexander said: "We have been delighted by the performance of both our B2C and B2B divisions in the first six months of this year, and our confidence in the future is represented by the significant increase in our dividend."

The results reflect for the first time a full half-year for GVC's B2B division, Alexander said, noting: "GVC's investment in its B2C brands together with the successful delivery of the group's B2B service to East Pioneer Corporation B.V. is now delivering considerable returns, and to illustrate the Board's confidence the interim dividend has been increased by 50% to 15 Euro cents per share.

Underlying sports wagers increased to Euro 256.3 million from Euro 23.2 million. With a combined gross win of 11% the underlying sports turnover enjoyed by GVC and its B2B partner, East Pioneer Corporation BV, amounted to Euro 28.7 million (H1-2011: Euro 23.3 million).

Revenue from B2B amounted to Euro 9.9 million (H1-2011: Euro 1.4 million).

Subsidiary Casino Club revenues were marginally lower at Euro 14.1 million (H1-2011: Euro 14.6 million), impacted by the industry-wide decline in poker revenues.

Revenue at Betboo, the group's Latin American brand, rose by 33% to Euro 5 million (H1-2011: Euro 3.8 million).

Profit after taxation amounted to Euro 5.2 million (H1-2011: Euro 1.6 million)

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