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Pin to quick picksGfinity Share News (GFIN)

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Gfinity Shares Fall Amid Reduction In Interim Revenue Of 20%

Thu, 23rd Jan 2020 10:34

(Alliance News) - Gfinity PLC on Thursday said it expects annual revenue to be broadly flat year-on-year despite a sharp reduction in the first half.

The AIM-listed e-sports company was trading 16% lower in London in morning trade at 2.38 pence a share.

Gfinity said trading in the six months to the end of December was broadly in line with expectations, resulting in revenue of GBP3.5 million. This was, however, 20% lower than GBP4.4 million reported a year earlier.

Gfinity explained that the decline reflected its transition to higher-margin revenue streams from low-margin Elite Series revenue.

Elite Series is a league hosted by Gfinity, in which ten different e-sports organisations in the UK and six in Australia battle across different games.

More positively, Gfinity said it expects gross profit to more than quadruple to GBP2.1 million from just GBP500,000 the prior year, reducing its adjusted operating loss to GBP2.4 million from GBP4.4 million year-on-year.

Looking ahead, Gfinity said it now anticipates revenue for the year to the end of June to be broadly in line with the year before, while margins are expected to be ahead of current market expectations.

The company also said it is in talks with potential strategic investors in the US and Europe that are expected to create new opportunities.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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19 Mar 2024 13:04

Gfinity confident of improved profitability after transitional period

(Alliance News) - Gfinity PLC on Tuesday reported that pretax losses narrowed in 2023 following efforts to streamline the company.

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19 Mar 2024 10:44

AIM WINNERS & LOSERS: PHSC notes buyback; Gfinity up on interims

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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7 Feb 2024 15:46

UK shareholder meetings calendar - next 7 days

Thursday 8 February 
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Hargreave Hale AIM VCT PLCAGM
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Friday 9 February 
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Monday 12 February 
Arix Bioscience PLCGM re takeover by RTW Biotech Opportunities Ltd
JPMorgan UK Smaller Companies Investment Trust PLCGM re merger with JPMorgan UK Smaller Companies
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Tuesday 13 February 
Cellular Goods PLCAGM
Iconic Labs PLCAGM
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Tui AGAGM including London Stock Exchange delisting vote
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Wednesday 14 February 
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Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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22 Dec 2023 20:45

EARNINGS AND TRADING: Plexus sees good momentum; Gfinity loss widens

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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14 Dec 2023 15:46

UK shareholder meetings calendar - next 7 days

Friday 15 December 
Abingdon Health PLCAGM
Aptamer Group PLCAGM
Bellway PLCAGM
CQS Natural Resources Growth & Income PLCAGM
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Ethernity Networks LtdGM re subscription agreement
Frontier IP Group PLCAGM
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Renalytix PLCAGM
Schroder Real Estate Investment Trust LtdEGM re proposed amendments to the investment policy
Tristel PLCAGM
Ultimate Products PLCAGM
Wentworth Resources PLCAGM
Monday 18 December 
Ascential PLCGM re proposed sale of digital commerce business
Braemar PLCAGM
Eqtec PLCEGM re capital reorganisation
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Surface Transforms PLCGM re fundraising
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Microsaic Systems PLCGM re fundraising
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Conroy Gold & Natural Resources PLCAGM
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Kin & Carta PLCCourt and GM re takeover by Apax Partners LLP 
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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5 Dec 2023 12:01

Gfinity sells Esports division to Ingenuity Loop for GBP15,000

(Alliance News) - Gfinity PLC on Tuesday said that it has sold the remaining business and assets of its former Esports Solutions division.

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27 Nov 2023 14:25

IN BRIEF: Gfinity disposes of remaining stake in Athlos Game

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27 Nov 2023 10:48

Gfinity disposes of remaining stake in Athlos Game Technologies

(Sharecast News) - Esports company Gfinity has disposed of its remaining 27.5% stake in its proprietary esports technology business Athlos Game Technologies.

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23 Aug 2023 15:42

UK shareholder meetings calendar - next 7 days

Thursday 24 August 
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Concurrent Technologies PLCAGM
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Honye Financial Services LtdAGM
Iconic Labs PLCAGM
Ormonde Mining PLCAGM
Ormonde Mining PLCEGM re AIM delisting and proposed investment in TRU Precious Metals Corp
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Axiom European Financial Debt Fund LtdEGM re liquidation of the company
Livermore Investments Group LtdAGM
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Gfinity PLCGM re share capital reorganisation
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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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23 Aug 2023 11:58

IN BRIEF: Gfinity appoints Capstone's David Halley as chief executive

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Gfinity sells 73% of subsidiary Athlos to Tourbillon; closes Esports

(Alliance News) - Gfinity PLC on Tuesday said it is closing down its Esports division and selling a majority stake of its subsidiary Athlos to Tourbillon Group UK Ltd.

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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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