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Trading statements

32Red delivers record H1 net gaming revenue

29 July 2016 07:40

32Red said it has delivered a record H1 total net gaming revenue, which came in at £30.4m, up 63% on the year from £18.6m. Trading is in line with the company's FY expectations.

CEO Ed Ware said:

"Our excellent growth was achieved despite a very active sports market towards the end of the Period coinciding with the European football championships.

"This demonstrates the appeal of the 32Red brands and customer experience as well as the opportunities ahead for 32Red to deliver further growth as we exploit marketing opportunities.

"32Red is in excellent health with a number of exciting opportunities ahead.

"We have a focused strategy to deliver continued organic growth as well as potential acquisition opportunities and we continue to look to the future with confidence."

LOOKING AHEAD:

"Strong trading momentum has continued since the Period end with the number of like for like (LFL) active users in the first 27 days of July 2016 up 21% on the corresponding period in 2015.

"LFL Wagering levels are up by 33%, although an unusually weak casino gross win margin resulted in NGR being slightly behind (-2%) a very strong July 2015 comparative.

"The Company confirms that trading remains in line with the board's full year expectations."

Story provided by StockMarketWire.com

Related Company: TTR

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