Playtech rallies on 38% increase in full year revenue
Updated : 09:53
Playtech’s shares rallied after the gambling software group reported a 38% jump in 2015 revenue to €630.1m (£499.02m).
The company said it achieved strong growth in the UK, boosted by deals with bookmakers including Ladbrokes and Sky.
Robust revenues led to a 22% increase in adjusted earnings before interest, tax, depreciation and amortisation of €251.9m. Adjusted net profit climbed 8% to €205.9m and as a result the dividend was lifted 8% to 28.5 cents each.
The group also announced that it was in discussions for a number of potential acquisitions in the gaming division, which chairman Alan Jackson said continues to “drive our growth”.
“Should suitable acquisitions not be available, consideration will be given to returning cash to shareholders as we look to maintain an efficient capital structure,” Jackson said.
Playtech has been linked with a bid for OpenBet, the sports betting software provider owned by British private equity firm Vitruvian Partners.
Jackson said he expects significant wins in 2016, led by omni-channel gambling offering and driven by existing and newly regulated markets.
Shares rose 4.48% to 839.50p at 0935 GMT.