LONDON, UNITED KINGDOM--(Marketwired - May 16, 2017) - Jackpotjoy plc (LSE: JPJ)
LSE: JPJ
Jackpotjoy plc
Results for the Three Months ended 31 March 2017
Gaming revenue up 11% year-on-year
Full year 2017 outlook confirmed
LONDON, 16 May 2017 - Jackpotjoy plc (LSE: JPJ), the largest online bingo-led operator in the world, today announces the results of the Jackpotjoy group (the "Group") for the three months ended 31 March 2017.
Financial summary
| |
|
Three months ended
31 March 2017
£m) |
|
Three months ended
31 March 2016
£m) |
|
Reported
Change
% |
| Gaming revenue |
|
71.4 |
|
64.2 |
|
11 |
| Net (loss)/income (as reported under IFRS) |
|
(15.3) |
|
5.1 |
|
- |
| Adjusted EBITDA1 |
|
29.2 |
|
28.0 |
|
4 |
| Adjusted net income1 |
|
20.8 |
|
23.4 |
|
(11) |
Group financial highlights
- Solid financial performance:
- Gaming revenue growth of 11% driven by 14% growth in the Jackpotjoy segment (71% of revenue)
- Adjusted EBITDA1 increased 4%, or 9% excluding income of £1.2m earned from the revenue guarantee in the prior year
- Adjusted net income1 down 11% due to higher interest expense from additional debt facility obtained in Q4 2016, and the impact of income earned from the revenue guarantee in the prior year
- Strong ongoing cash generation:
- 31.3p of operating cash flow per share2. Excluding one-time/exceptional items3, this metric would increase to 40.3p per share2
- 80% conversion rate from Adjusted EBITDA1 to operating cash flow. Excluding one-time/exceptional items3 this metric would increase to 103%
- Gross cash of £112.3m at 31 March 2017
- Adjusted net debt4 of £407.3m at 31 March 2017 (£408.1m at 31 December 2016)
- No change to full year 2017 outlook - management expects revenue growth in line with market growth rates
Click on, or paste the following link into your web browser, to view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/2075F_1-2017-5-15.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END