16th Nov 2015 09:30
LONDON (Alliance News) - Stride Gaming PLC Monday reported a drop in pretax profit in its recently-ended financial year as it booked costs related to its AIM listing and acquisitions, but it grew on an adjusted basis as revenue more than tripled.
The online gaming operator, which listed on AIM in May, said its pretax profit in the year ended August 31 fell to GBP360,000 from GBP846,000 the year before, as a result of costs related to its AIM listing and acquisitions it made.
Adjusted pretax profit, which excludes one-off items, grew to GBP3.9 million from GBP0.8 million, however.
Net gaming revenue grew to GBP27.8 million from GBP8.5 million, which it said resulted from its acquisition of the Table Top Entertainment brands in September 2014, as well as strong organic growth.
Stride said it will adopt a progressive dividend policy in the future.
"We believe we have put in place a solid foundation from which to further expedite the growth of the company and the board looks to the future with confidence," Non-Executive Chairman Nigel Payne said in a statement.
Shares in Stride were trading down 1.9% at 265.00 pence Monday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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