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26 Mar 2014 07:00
32Red Plc
("32Red" or "the Company")
On course to meet expectations
The Company notes the recent sharp fall in the share price since reporting record results in terms of both sales and profits for the year ended 31 December 2013 on 6 March 2014. The Company can confirm that trading in recent weeks has strengthened further with Gross Gaming Revenues up 19% in the first 24 days in March against the corresponding period, taking the cumulative year-to-date increase to 8% as at 24 March 2014.
The UK Government's proposed introduction of a Point of Consumption Tax ("POCT") from the end of 2014 was again referenced in the Budget supplementary papers on Wednesday 19th March, although nothing new of substance was announced. The Company continues to work with the Gibraltar Betting and Gaming Association to ensure that the industry concerns are voiced and understood by the UK Government and other stakeholders. The new announcements in the Budget regarding increased Fixed Odds Betting Terminal duties and levy collection do not impact the Company.
The Board remains confident in the prospects for the business and in meeting its financial expectations for the year.
26 March 2014
Enquiries:
32Red Plc | Tel: 00 350 200 49396 |
Ed Ware, CEO |
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Jon Hale, Finance Director |
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Numis Securities Limited | Tel: +44 (0) 20 7260 1000 |
Chris Wilkinson (Corporate Broking) |
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Michael Meade (Nominated Adviser) |
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Instinctif Partners | Tel: + 44 (0) 20 7457 2020 |
Mark Reed |
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Jamie Ramsay |
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