13th Jan 2015 08:38
LONDON (Alliance News) - Interactive gaming company NetPlayTV PLC on Tuesday said it expects to meet market expectations for the full year as it posted a rise in new players and total players for fourth quarter and confirmed its interim chief executive officer as permanent.
The company said it expects its underlying results for 2014 to meet current market expectations. Revenue for the fourth quarter to December 31 was down to GBP6.4 million, from GBP7.9 million a year earlier, but was in line with its third-quarter figures.
In October, shares in NetPlay dropped after it said it expected its results for the year to be below market expectations due to a high level of marketing spend.
Since then, the company has implemented a new marketing strategy and has seen the average cost of acquiring new depositing players fall, while average revenue per player has increased.
For the fourth quarter, the company posted a 4% rise in new depositing players to 16,249, from 15,648 last year. Active depositing players overall rose to 33,073 at the end of the year, from 32,163 a year before.
NetPlay also said it has appointed Bjarke Larsen as its permanent chief executive. He had been working as its interim chief executive and commercial director.
"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," said Non-Executive Chairman Charles Butler.
NetPlay shares were up 1.5% to 7.36 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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