11th Jun 2015 08:13
LONDON (Alliance News) - Boxhill Technologies PLC Thursday said that profitability in the third quarter of its financial year exceeded the profit made in the whole of the first half, and that it is confident that revenue in the full year will be at least double the revenue made the prior year.
The payment software and lottery group said that its payment division was the main driver in profit growth in the three months to April 30, but said it expects there to be "some negative impact" in May and June due to the lack of football betting in the off season, although this is expected to be somewhat offset by other sporting events such as Wimbledon and the Grand Prix.
The Casino Cash pilot at the Hippodrome Casino also concluded with positive results, Boxhill said, adding that it expects to make an announcement in the next quarter regarding interest in Casino Cash from overseas operators.
Prize Provision Services, which is the operator of The Weather Lottery, is in the final stages of completing improvements to its technical platform and migration is due to be completed this month, Boxhill added.
"It's great to see the results of hard work reflected in a positive financial performance for the third quarter. The board will continue to scrutinise and review the shape and offering of our business and place a priority on expanding those operations that generate revenues," Chief Executive Phil Jackson said in a statement.
Shares in Boxhill were trading down 4.4% at 0.240 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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