PROBABILITY CUTS HALF YEARLY LOSS

7 December 2007

NGR well up on same time last year, but operating loss persists


The last few months have seen the name of UK mobile technology company Probability plc appearing regularly in the business news, with solid white label partnership deals involving respected companies like Orange, Rank Group and The Sun newspaper (see previous InfoPowa reports)

The upward trend in the firm's fortunes is reflected in its latest half yearly results published this week, which reflect a significant improvement in net gaming revenues from last year's corresponding period, when NGR amounted to GBP 613 000 to this the 2007 numbers of GBP 1.1 million to the end of September.

The company is still showing operating losses, but they are decreasing rapidly and at GBP 624 000 (2006: GBP 2.1 million) and taken with an impressive 24 000 new customer signups there is justification for management's optimism going forward.

Chief executive officer Charles Cohen says: “As a vertically integrated operator with our own technology platform, brand and fixed overheads we are able to take full advantage of the expanding opportunity of mobile gambling. Even before factoring in deals such as Blue Square, the Sun and Orange, we are confident of delivering growth in line with expectations for the full year and beyond.”

Online Casino News courtesy of InfoPowa