Netplay TV's interim profit results have revealed growing losses but encouraging signs for future growth.
The UK AIM listed interactive TV gambling operator announced its results for the first six months of 2009. Like most gambling operators in the UK, the last 18 months hasn't exactly been kind to Netplay. They posted a £3.2 million loss for the period, compared with a £134,000 loss for the corresponding period the previous year. Expenses were up and gross revenues from gambling operations (ie net player losses) were down 27%.
But there were also encouraging signs, which chairman Clive Jones was quick to point out.
'In 2009, NetPlayTV has successfully managed to transform itself from a small gaming business into a respected interactive media business...In signing new deals with some of the world’s largest media businesses, it has clearly established itself as a serious player in the interactive television marketplace.'
Jones was referring to recent distribution deals signed with Channel Five and STV to add to its existing broadcast arrangements with Freeview, Turner Media and FreeSat. Continued growth in distribution channels helped boost total turnover to £204 million - a 31 percent increase on the same period last year.
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