LONDON Aug 29 Gaming software developer
Playtech posted a 13 percent jump in first
half-earnings on Thursday, helped by the rising popularity of
mobile and online gambling, and said it was confident of meeting
full year market expectations.
Playtech, which develops software for betting firms such as
Paddy Power and Betfair, also said its chairman
of seven years, Roger Withers, would step down in October and
would be replaced by senior non-executive director Alan Jackson.
The company said underlying adjusted earnings before
interest tax, depreciation and amortisation was 78.9 million
euros ($105 million) for the six months to the end of June,
compared to 69.8 million euros in the previous year.
Total revenues were up 15 percent at 176.8 million euros,
while underlying adjusted net profit was 11 percent higher at
69.7 million euros, the company said.
Daily average revenues over the first sixty days of the
third quarter are over 10 percent up compared to the same period
last year, it said. It also announced an interim dividend of 7.8
euro cents per share, the same as last year.
"As online gaming continues to focus on mobile, it is
pleasing to see our investment in this increasingly important
market paying-off across many product areas," Withers said in a
Playtech, which netted 424 million pounds in March after
William Hill bought out stake in a joint internet , said
it was looking invest in bolt-on acquisitions after buying
Pokerstrategy.com for 38.3 million euros in July
Shares in Playtech, which have risen by 85 percent over the
past year, closed at 660.5 pence on Wednesday, valuing the
company at 1.94 billion pounds.