PRESS RELEASE
Preliminary Results
22 April 2008
Gaming VC Holdings S.A., a leading European online gaming company, today announces its preliminary results for the year ended 31 December 2007.
Highlights
- Gross profit increased 9.5% to €32.2 million (2006: €29.4 million);
- Operating profit up* 28.1% to €17.3 million (2006: €13.5 million);
- Net revenues were up 5.2% to €42.7 million (2006: €40.6 million);
- Maltese gaming licences acquired, reducing regulatory risk in the European Union;
- Successful diversification, having acquired a sports betting licence;
- Recommended final dividend of €0.20 (c£0.16) (2006:€0.19 (£0.13)).
*before exceptional items and share option charge
Commenting on the results, Kenneth Alexander, Chief Executive of Gaming VC, said: "I am delighted with the performance of the Group during 2007 with record profitability delivered during the year. It has been a year of transformation and change in strategic direction. Acquiring our European licences and diversifying into new products and markets leaves the Group in a much stronger position moving forward. I am confident that Gaming VC is now well placed to continue its successful growth story."
Download
The results are available to download in PDF format.
For further information:
| Gaming VC Holdings S.A. | Tel: +44 (0) 20 7398 7700 |
| Kenneth Alexander, Chief Executive | |
| investors@gamingvc.com | www.gamingvc.com |
| Arbuthnot Securities Limited | Tel: +44 (0) 20 7012 2000 |
| James Steel / Paul Vanstone, Corporate Finance | www.arbuthnotsecurities.co.uk |
Media enquiries:
| Abchurch | |
| Stephanie Cuthbert / Nick Probert | Tel: +44 (0) 20 7398 7718 |
| stephanie.cuthbert@abchurch-group.com | www.abchurch-group.com |