23rd May 2016 06:43
LONDON (Alliance News) - Stride Gaming PLC on Monday said half-year pretax profit was slashed by one-off costs, but revenue nearly doubled and the group declared its maiden interim dividend.
Stride, which floated on AIM a year ago, said pretax profit in the six months to the end of February was GBP228,000, down from GBP1.6 million a year earlier. This was primarily due to the group having had to make around GBP3.0 million in share-based payments and contingent remuneration on its recent acquisitions.
Revenue in the half grew to GBP21.6 million from GBP11.7 million a year earlier, boosted by acquisitions, while pro-forma net gaming revenue grew to GBP21.6 million from GBP17.9 million.
Stride said it will pay an interim dividend of 1.1 pence per share, its first interim payout.
Stride Chief Executive Eitan Boyd said current trading is strong, and the group is on track to deliver "exceptional" results for the full year. He said the outlook for Stride is "very exciting" and the interim dividend was a show of its confidence in its prospects.
By Sam Unsted; [email protected]; @SamUAtAlliance
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