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NetPlay TV returns to profits according to their financial results

NetPlay TV, an iGaming interactive firm based in London revealed their short term financial results for the first half of 2011 which showed positive signs of benefits after making a complete restructure and going back to focusing on its core live casino product last year.

Netplay TV announced that their revenues for the first 6 months of 2011 are in the same level as they expected with just over £10.5 million. Net Play also revealed that earnings before the tax, interest, , depreciation and amortisation which showed a significant different from £840,000, which was last year’s result to this year’s figure £1.69 million.

A 10.7% increase to £9.81 million in total revenues for the casino product was reported by Netplay after comparing these figures to last year’s and the number of active players also saw a positive rise of 13.9% to 35,689 when compared to last year. NetPlay also experienced a 20.4% to 40,134 in new casino sign ups over last year and it seems that they continued this strong trading in Jully with it’s key performance indicators suggest a significant increase over last year’s.

Clive Jones, Net Play TV’s Non Executive Chairman stated that “We are very pleased to report a strong first half.”

He added that “the return to profitability, cash generation and growth in our KPIs are a clear illustration of the benefits the restructuring has brought and is a testament to the strength of the team that we now have in place.

“We are looking to the future with confidence and continue to explore opportunities to leverage our industry expertise and television production facilities to facilitate further expansion in both the UK and overseas.”

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