Jackpotjoy announces strong financial performance
Revenues at Intertain – now a subsidiary of Jackpotjoy plc – rose by 15% to £269.0m in the year to the end of December.Net losses fell by 63% to £40.6m and adjusted EBITDA rose by 19% to £102.2m.
Chief executive Andrew McIversaid: “The past financial year has been a turbulent one for the group, so I am pleased to be reporting strong results today, which clearly demonstrate the strength of our brands across the portfolio.
“Strong group revenue growth of 15% has been driven by growth across all our business units, with our largest brand, Jackpotjoy, reporting impressive growth of 17%.
“I am also pleased to say that on a constant currency basis we achieved the high end of our market guidance.
“This is something I am particularly proud of given the strategic initiatives that were ongoing throughout 2016, and clearly demonstrates our ability to develop and grow our brands whilst also undertaking significant corporate-level activities.
“Looking ahead to 2017, I am excited about what the year holds for Jackpotjoy plc, following our listing on the London Stock Exchange in January 2017. “I am confident that our strong portfolio of brands will continue to deliver strong organic growth and this is further evidenced by the 10% revenue growth year-on-year we are forecasting for Q1 2017.”