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13 Jan 2015 07:00
Date: | 13 January 2015 |
On behalf of: | NetPlayTV plc ('the Company', 'the Group' or 'NetPlay') |
Embargoed until: | 0700hrs |
NetPlayTV plc
Q4 Trading Update and Director Change
Trading Update
NetPlayTV plc (AIM: NPT), is pleased to announce its 2014 Q4 KPIs and provide a trading update:
· 4% increase in new depositing players to 16,249 (Q4 2013: 15,648)
· 3% increase in active depositing players to 33,073 (Q4 2013: 32,163)
· Full year underlying results[*] expected to be in-line with current market expectations
· Bjarke Larsen is appointed Chief Executive Officer
As stated in the Q3 trading update, the Group has now completed a thorough review of its marketing programme and has subsequently developed a new strategy, which is designed to deliver improved returns through increased cost efficiencies and more accurately targeted marketing spend. This process included terminating onerous and inefficient marketing contracts and working closely with the Groups' major TV partners to maximise the effectiveness of its guaranteed TV airtime contracts.
These strategic changes are already delivering encouraging results. Overall Q4 marketing spend has been reduced, the average cost to acquire new depositing players has fallen and average revenue per player has increased. Revenue for the quarter is £6.4m (Q3 2014: £6.4m;Q4 2013: £7.9m) and underlying results[*] for the full year ending 2014 are in-line with current market expectations.
The point of consumption ('POC') tax became effective from 1 December 2014. Despite this, the Group's business remains cash flow positive. The Directors believe this coupled with its strong balance sheet, will put NetPlay in a good position to take advantage of potential consolidation opportunities.
The Company expects to issue its full year preliminary results in early April 2015.
Director Change
The Company is pleased to announce that Bjarke Larsen, currently Interim-CEO and Commercial Director of the Company, has been appointed as the Company's permanent Chief Executive Officer with immediate effect.
Charles Butler, Non-Executive Chairman of NetPlayTV, commented:
"I am delighted to welcome Bjarke as CEO of the Company. Bjarke has been with the Group for eight years and with his significant Company and industry experience is well placed to lead the company in its next stage of development."
Enquiries:
NetPlayTV plc | www.NetPlayTV.plc.uk |
Bjarke Larsen, Chief Executive Officer Akshay Kumar, Group Finance Director
| Via Redleaf |
Redleaf PR | Tel: 020 7382 4730 |
Rebecca Sanders-Hewett / Jenny Bahr / Rachael Brown | netplay@redleafpr.com |
N+1 Singer (Nominated Adviser and Broker) | |
Jonny Franklin-Adams/ Jen Boorer | Tel: 020 7496 3000 |
Notes to Editors:
About NetPlayTV plc
NetPlayTV plc is admitted to trading on the AIM market of the London Stock Exchange (NPT). NetPlayTV operates a number of interactive gaming services under an Alderney gaming license, including SuperCasino.com, Jackpot247.com and Vernons.com. Its TV services can also be viewed 24 hours a day live on Sky Channel 862, six nights a week on ITV1, and every evening on Channel 5.
The Company is focused on the delivery of a converged interactive gaming experience allowing its players to interact with its games on a variety of platforms, TV, internet, mobile and tablet from a common integrated wallet.
[*] Underlying results for the purpose of this RNS mean Net Revenue, Adjusted EBITDA and Adjusted Earnings. Adjusted EBITDA is a non-GAAP, company specific measure from continuing operations and excludes share based payment charges, reorganisation and other one-off costs. Adjusted earnings is a non-GAAP, company specific measure from continuing operations and excludes share based payment charges, the amortisation of acquired intangibles, reorganisation and other one-off costs.
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