getting some news flow22 Jul 2011 09:10
From STockEye
32Red Plc (21/07/11)
Sector: Travel & Leisure Share Price: 29.75p Market Capatilisation: £20.8 Million
32Red Plc (TTR) the award winning online betting and gaming operator has provided shareholders with a trading update for the six months ended 30 June 2011. The company has reported record revenues for the period with total Gross Win up 42% to £11 Million (£7.8 Million, 2010). The management are extremely pleased with the performance as the first half of 2010 was a particularly strong period; to beat those figures by such a margin represents an excellent first six months of 2011. The increased revenue comes on the back of an increase in new casino players (13,901 up 13%), an increase in active casino customers (21,745 up12%) and an increase in casino player yield (£438 up 22%). This performance has continued into the second half of the year with Gross Win up 67% for the first 19 days of July. As a result, the company now believes that current trading and the performance during the first six months is likely to see 32Red deliver revenues and profits which are significantly ahead of current market expectations for 2011. The company reported a pre-tax profit in 2010 of £1.04 million from total revenues of £16.95 Million. Interim results will be announced on the 8 September. It is also worth noting that the company has renewed its sponsorship with Swansea City Football Club and following their promotion to the premier league will now benefit from the increased exposure that brings.