PERFORM DELIVERS STRONG FULL YEAR RESULTS
06th March, 2013 at 09:26:17
Performance continues into 2013 in trading update
Digital media firm PERFORM has reported on its full year 2012 results delivering a strong performance with good momentum continuing into 2013.
Key performance highlights for the period ending December 31, 2012 include:
- Revenue of £ 151.5 million (2011: £ 103 million), up 47 percent
- Year on year revenue growth excluding RunningBall and Mackolik of 35 percent
- Adjusted EBITDA of £ 32.5 million (2011: 18.5 million), up 103 percent. Excludes exceptional costs of £ 5.3 million (2011: £ 5.0 million), share based payments relating to the Group's Growth Share Option Plan of £ 1.2 million (2011: £ 4.8 million) and other share based payment charges £ 2.0 million (2011: £ 0.3 million)
- Adjusted profit after tax amounting to £ 26.8 million (2011: 14.7 million), up 83 percent. Excludes these items and also excludes acquisition related amortisation and service charges £ 2.9 million (2011: £ 0.9 million) and the accretion of acquisition related deferred consideration £ 1.9 million (2011: 0)
- Profit after tax of £ 13.5 million (2011: £ 3.7 million), up 263 percent
- Adjusted EPS of 11.2 pence (2011: 6.3 pence), up 78 percent
- Growth in the Group's website display network to 54 million average monthly unique users across Q4 (2011 Q4: average 30 million).
- 36% subscriber growth to 510,000 (2011: 375,000) with the launch of new mobile services for Goal and Mackolik plus strong subscriber growth on third party services.
The company reports a good start to 2013 with January and February showing strong year-on-year revenue and EBITDA growth.
Oliver Slipper, joint Chief Executive Officer of Perform Group plc commented:
"We are pleased to once again be reporting strong operational and financial performance. We have delivered these strong results at the same time as continuing to invest in the business to drive long-term sustainable growth.
"We enter 2013 with increasing momentum driven by our operational performance and the structural drivers in our core growth sectors. We have significant visibility over full year revenues, with in excess of £ 130 million already contracted, and remain confident that we will deliver full year revenue and EBITDA in line with the Board's expectations.
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