28th May 2015 07:31
LONDON (Alliance News) - Stride Gaming PLC Thursday reported a profit in the first half its financial year, having suffered a loss in the prior year, as revenue more than doubled and the number of funded players and yield per player increased.
Stride, which started trading on AIM earlier this month, reported a pretax profit of GBP1.6 million in the six months to February 28, after making a GBP127,000 loss in the same period the year before.
Revenue more than doubled to GBP11.7 million from GBP4.3 million, as the number of funded players grew 64% to 52,000 and the yield per player more than doubled to GBP279 from GBP113.
"The six months to February 28, 2015 has been a successful period for Stride Gaming. The organic growth of the business continues at a strong pace and current trading is strong and ahead of management's expectations. Having successfully listed on AIM post period end, I believe the outlook for Stride Gaming is exciting and we will continue to lay strong foundations for future growth," Chief Executive Eitan Boyd said in a statement.
Stride operates the Kitty Bingo, Lucky Pants Bingo, Bingo Extra, Jackpot Café, Jackpot Liner, King Jackpot brands, together with the online casino brands Spin and Win and Magical Vegas.
Shares in Stride were trading up 4.4% at 200.00 pence at the open on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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