JPJ Group swung to a first-half profit supported by an uptick in total gaming revenue. 

For the six months to 30 June, profit before tax rose to £7.44m compared with a loss of £4.71m a year earlier, total gaming revenue rose 10% to 161.1m year-on-year and adjusted earnings (EBITDA) fell 4% year-no-year.

The first half of the year has seen a continuation of the strong momentum that JPJ Group plc has reported since listing in the UK in January 2017. Group revenue grew 10% with Average Active Customers per month also increasing 7%, driven by good growth across our global footprint, in particular in Spain and a number of relatively new markets,’ said Neil Goulden, Executive Chairman.

Average active customers a month grew to 259,861 in the 12 months to 30 June 2018, an increase of 7% year-on-year.
Performance was in line with expectations and the company said that outlook for the group remained positive for the full year.

‘Looking ahead to the second half of the year, we expect an improvement in adjusted earnings (EBITDA) growth year-on-year following the conclusion of the successful TV advertising campaigns and as we pass the anniversary of the introduction of the UK POC2 gross gaming revenue tax,’ the company said.  The group today also sold its social gaming operation for £18.1mln.