26th Feb 2015 08:42
LONDON (Alliance News) - Playtech PLC on Thursday reported a rise in adjusted profit for 2014 on the back of higher revenue, even as its pretax profit fell owing to a one-off gain made last year, and the group hiked its dividend as it said its strong performance has continued in early 2015.
The FTSE 250-listed gaming technology company said its adjusted pretax profit for the year to the end of December was EUR194.1 million, up from EUR151 million a year earlier. Its actual pretax profit fell to EUR143.6 million, down from EUR491.3 million owing to the EUR340.1 million gain it made last year from the sale of its investment in William Hill Online to William Hill PLC.
Revenue for the year was up 24% to EUR457 million from EUR367.2 million, boosted a range of product launches and agreements struck in the past year, including the completion of the integration of its product suite and infrastructure with Ladbrokes PLC.
The group has recommended a final dividend of 17.5 euro cents per share for the year, up from 15.4 cents last year, giving it a total dividend of 26.4 cents per share compared to 23.2 cents a year ago.
Playtech said it has started the new year well, with daily average revenue for the first eight weeks of the year up 22% year-on-year and 5% higher than in the fourth quarter of 2014.
"Playtech has continued to deliver exceptional performance by focusing on consolidating its position as the world's leading software and services provider to the online gambling industry. By expanding its licensee relationships; creating innovative new content; enhancing its products; and deepening its customer focus, the business has continued to thrive," said Playtech Chairman Alan Jackson.
Shares in Playtech were up 1.6% to 750.00 pence on Thursday morning, one of the best performers in the FTSE 250.
By Sam Unsted; [email protected]; @SamUAtAlliance
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