Playtech show strong first half results

[corner-ad id=3]Playtech have announced their half yearly results with a 15% increase from the same time last year, the gambling software giant saw revenues rise to €176.8 million for the first half of 2013, compared to €153.8 million for the same period in 2012 .

Announcing its interim figures for the six months ending in June 2013 the company said that gross income had shifted up by 10% to €194.9 million to generate an adjusted net profit of €84.9 million, up 0.5% on the corresponding period of last year. Playtech also showed a strong cash reserve of €576.2 million allowing to offer shareholders a dividend of 7.8 cents on a share.

“Once again Playtech’s tenacity and drive have been demonstrated in these results as it has focused on deepening its licensee relationships; creating innovative new content; and providing its customers with cutting edge products and services,” non-executive chairman Roger Withers said.

“As online gaming continues to focus on mobile, it is pleasing to see our investment in this increasingly important market paying-off across many product areas.

“The company continues to capitalise on its customer-focused strategy and strong balance sheet: Playtech remains the world’s leading supplier of technology and services for the online gaming industry and can look to the future with confidence and optimism.”

While announcing the interim results it was also disclosed that Mr Withers will be stepping down from his current role on the 9^th October, but will remain as an advisor to the company.

Alan Jackson, who is currently the senior non-executive director, will assume the role as non-executive chairman from Mr Withers.