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0.0345 0.00 (0.00%)

Bid:

0.034

Ask:

0.035

Spread: 0.001 (2.941%)

Market Cap: £2.05m

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IN BRIEF: Gfinity Excited By Digital Media Unit Performance

Tue, 18th Aug 2020 18:39

Gfinity PLC - London-headquartered e-sports firm - Says it continues to grow its user base, whilst increasing its lucrative US audience and adding new partnerships including Steel Series and TopCashBack. Noted its Digital Media unit is one of its fastest-growing revenue streams for the company. Unit has delivered "close to" GBP200,000 through on-site advertising by the end of July. Expects "strong" fourth quarter and first quarter from Digital Media unit.

Overall, Gfinity Digital Media is expected to generate revenue of GBP2 million in the financial year ending June 30, 2021, supporting the company's target of moving into profitability in the first quarter of 2021.

"Gfinity Digital Media continues to go from strength-to-strength. Our sites have become popular destinations for the latest news on a number of games including FIFA, Fortnite, Call of Duty and Minecraft," said Talal Musa, head of Gfinity Digital Media.

Current stock price: 4.00 pence

Year-to-date change: up 22%

By Paul McGowan; paulmcgowan@alliancenews.com