DOUGLAS, Isle of Man -- Maiden preliminary results for the year ended 31 December 2006
A strong performance in challenging market conditions
Playtech (AIM: PTEC), the designer, developer and licensor of software
for the gaming industry, is pleased to announce its maiden preliminary
results for the year ended 31 December 2006.
Financial Highlights:
- Total revenues for the year up 89% to $90.1 million (2005: $47.6
million)
- Casino revenues up 81% to $77.2 million (2005: $42.7 million)
- Poker revenues up 309% to $10.9 million (2005: $2.7 million)
- Pro forma revenues for the year, which excludes royalty contributions
from the US, increased 143% to $55.6 million (2005: $22.8 million):
- Casino revenues up 131% to $47.3 million (2005: $20.5 million)
- Poker revenues up 386% to $7.4 million (2005: $1.5 million)
- Adjusted net profit* after tax up 90% to $67.7 million (2005: $35.7
million)
- Adjusted basic EPS* up 78% to 32 cents per share (2005: 18 cents per
share)
- Recommended Final Dividend of 7.0 cents per share making a total of
approximately 15.7 cents per share for 2006.
- Strong trading for January 2007:
- Total royalties up 10% to $5.9 million (December: $5.4 million)
- Casino royalties up 9% to $4.8 million (December: $4.4 million)
- Poker royalties up 15% to $1.0 million (December: $0.9 million)
* In 2006 - excluding one time founders' cash contribution and employee
stock option expenses of $7.3 million.
Operational Highlights:
- Acquisition of certain non-US assets of Tribeca Tables Europe Limited
in November 2006, migration on track.
- Fast expansion of development capabilities to support strong product
pipeline and future growth of the Group:
- Expansion of Estonian centre
- Establishment of development centre in Bulgaria
- Investment in the India and Philippines centres acquired from Tribeca
- Substantial expansion into Asia - major software licensing agreement
signed with China's largest corporate retail gaming network, Sino Strategic
International, coupled with new products for the Asian market
- Expansion into land based gaming progressing well - licensing
agreement signed with leading Mexican casino operator Entretenimiento De
Mexico S.A. De C.V.
Avigur Zmora, Chief Executive of Playtech, said:
"We look forward into 2007 with great enthusiasm and expect it to be a
year of further growth. Geographical expansion will be completed and
supported by the development and improvement of our product portfolio,
resulting in an increase in the number of revenue streams available to the
Group. Our continuing commitment to our employees, who are the driving
force behind Playtech's success, will help increase the Group's momentum
and to further establish its position as the world's leading supplier of
software to the international gaming industry."