32Red almost doubles dividend after record FY revenue, profit

Online-gaming operator 32Red has posted a record revenue and profit performance for its full year, and almost doubled its dividend for the period.

The company, which has recently recommended a 196p-a-share cash offer from Kindred Group, saw its pre-tax profit rise 511% to £6.5m, from £1.1m. EBITDA was £10.6m, from £5.2m.

Net-gaming revenues (NGR) were up 28% to £62.3m, from £49.7m, with improved contributions from both casino and other products.

Full-year dividend was 5.3p a share, up from 2.8p.

"This outstanding operational progress has resulted in another hugely successful financial outcome with EBITDA more than doubling and revenues rising by an impressive 28% to exceed prior records," said chief executive Ed Ware.

"Momentum into 2017 has remained strong with NGR up 20% year on year," he added.

"Underpinned by the strength of the brand, 32Red has an exceptional platform to drive continued growth across the business and increase market share both in the UK and Italy."

At 13:37 GMT, shares in AIM-quoted 32Red were flat at 194p each.