17th Oct 2014 07:00
Date: | 17 October 2014 |
On behalf of: | NetPlayTV plc ('the Company', 'the Group' or 'NetPlay') |
Embargoed until: | 0700hrs |
NetPlayTV plc
Q3 Trading Update
NetPlay TV plc (AIM: NPT), the interactive gaming company, announces its Q3 KPIs and provides a trading update:
· 21% increase in new depositing players to 18,853 (Q3 2013: 15,566)
· 22% increase in active depositing players to 35,225 (Q3 2013: 28,890)
· High level of marketing spend results in expected full year results to be below market expectations
· Cash balances £13.4m at 30 September 2014 equating to 4.5 pence per share.
Growth in new depositing players and total depositing players has continued during the quarter with revenues remaining broadly flat against the same quarter of 2013 (Q3 2014: £6.4m, Q3 2013: £6.5m).
The Group's interim results referred to the widely reported unsustainable level of marketing activity throughout the gaming industry driven by the impending point of consumption tax ('POC'), a trend that has continued into this quarter. Despite the Group's level of marketing spend, it has not achieved the targeted levels of new customers and net revenue expected from this spend. This situation combined with the current trading environment, and the initiation of POC means that the Board expects current market expectations to be materially lower than forecast.
Management has conducted a thorough review of its marketing activity and has developed a new strategy designed to deliver improved returns through more cost effective and better targeted marketing spend.
The Company remains highly cash flow generative and is supported by a strong balance sheet with cash or cash equivalents totalling £13.4m at 30 September 2014.
Enquiries:
NetPlayTV plc | www.NetPlayTV.plc.uk |
Bjarke Larsen, Interim Chief Executive Officer Akshay Kumar, Group Finance Director
| Via Redleaf |
Redleaf Polhill | Tel: 020 7382 4730 |
Rebecca Sanders-Hewett / Jenny Bahr / Rachael Brown | |
N+1 Singer (Nominated Adviser and Broker) | |
Jonny Franklin-Adams/ Jen Boorer | Tel: 020 7496 3000 |
Notes to Editors:
About NetPlayTV plc
NetPlayTV plc is admitted to trading on the AIM market of the London Stock Exchange (NPT). NetPlayTV operates a number of interactive gaming services under an Alderney gaming license, including SuperCasino.com, Jackpot247.com and Vernons.com. Its TV services can also be viewed 24 hours a day live on Sky Channel 862, six nights a week on ITV1, and every evening on Channel 5.
The Company is focused on the delivery of a converged interactive gaming experience allowing its players to interact with its games on a variety of platforms, TV, internet, mobile and tablet from a common integrated wallet.
Related Shares:
NPT.L