Cash balances increased by £2.4m during the year to £7.9m and the Group made profit after taxation of £0.6m (2010: loss after taxation of £13.7m).
Commenting on the results, Charles Butler, NetPlayTV’s Chief Executive said:
“We are very proud of the significant strategic and commercial progress made over the past year, and the robust results announced today illustrate the strength of the Company’s live TV casino proposition.
“We are confident in the opportunities for growth available in the existing UK markets through a combination of strong customer acquisition and product development, whilst also pursuing quality international expansion opportunities. We will continue to leverage our strong broadcaster relationships to drive growth and in turn create long term shareholder value.
“We are looking forward to 2012 with confidence and expect to continue to build on the positive momentum and successful results of 2011.”
In terms of its future outlook, Net Play has signed a new two-year deal with ITV. The agreement will see Jackpot247.com broadcast live on ITV1 on a dedicated gaming slot four nights a week for two hours per night. This agreement further builds on the Company’s strategy of focussing on live TV roulette broadcasts on terrestrial TV, a proven source for customer acquisitions.
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