Stride Gaming Upbeat On Full Year Results

Strong maiden results following AIM listing

Online gaming operator Stride Gaming plc delivered a solid performance for the year ended August 31, 2015 impacted by the cost of three acquisitions during the period.
Key performance indicators include:
-Raised GBP 11.2 million with regarding to IPO on AIM.
-Net Gaming Revenue grew 227 percent to GBP 27.8 million (2014: GBP 8.5 million);
-Adjusted EBITDA up 508 percent to GBP 7.3 million (2014: GBP 1.2 million);
-Adjusted profit before tax up 388 percent to GBP 3.9 million (2014: GBP 0.8 million)
-Profit after tax of GBP 0.4 million (2014: GBP 0.8 million);
-Gross assets up 740 percent to GBP 48.7 million (2014: GBP 5.8 million), including cash of GBP 7.4 million (2014: GBP Nil);
-Yield per player from real money gaming up 14.3 percent to GBP 112 (2014: GBP 98).
Stride had a transitional year, launching three new brands, entered the Spanish market and received an Italian licence from AAMS.
"I am delighted to present the maiden set of Preliminary Results for the year ended . It has been an exceptional year for Stride Gaming and the Group's performance in the period has been outstanding," commented Nigel Payne, Non Executive-Chairman of Stride Gaming.
"We believe we have put in place a solid foundation from which to further expedite the growth of the Company and the Board looks to the future with confidence."

Online Casino News Courtesy of Infopowa