LONDON, UK / ACCESSWIRE / May 15, 2019 / JPJ Group plc (LSE: JPJ) (the 'Group'), a leading global online bingo-led operator, today announces the results for the three months ended 31 March 2019.
Financial summary1
|
|
Three months ended 31 March 2019 (£m) |
Three months ended 31 March 2018 (£m) |
Change (%) |
|
Gaming revenue |
83.3 |
74.0 |
13 |
|
Net income/(loss) from continuing operations (as reported under IFRS) |
7.9 |
(8.0) |
- |
|
Adjusted EBITDA2 |
29.0 |
24.9 |
16 |
|
Adjusted net income2 |
22.6 |
19.1 |
18 |
|
Operating cash flows |
20.6 |
24.4 |
(16) |
|
Diluted net income/(loss) per share from continuing operations3 |
0.11 |
(0.11) |
- |
|
Diluted adjusted net income per share from continuing operations2,3 |
0.30 |
0.26 |
15 |
Financial highlights for first quarter
• Good financial performance
o Gaming revenue rose 13% year-on-year, driven by strong organic growth4 at Vera&John
o Adjusted EBITDA2 increased 16% year-on-year highlighting operating leverage at Vera&John
o Adjusted net income2 increased by 18% year-on-year
• Strong ongoing cash generation and reduction in net debt
o Completed the sale of the Mandalay business for £18.0 million on 12 March 2019 - a £12.0 million cash consideration was received upfront with the outstanding £6.0 million to be paid in September 2019
o Free cash flow5 of £18.8 million and adjusted net debt6 of £274.8 million (compared to £302.1 million at 31 December 2018)
o Adjusted net leverage ratio7 of 2.44x reduced from 2.68x at 31 December 2018
• Following the positive start to 2019, the Group continues to trade in line with management's expectations
Operational highlights
• Continued improvement in core KPIs8,9 year-on-year:
o Average Active Customers per Month8,9 grew to 242,938 in the twelve months to 31 March 2019, an increase of 8% year-on-year
o Average Real Money Gaming Revenue per Month8,9 grew to £25.7 million, an increase of 12% year-on-year
o Monthly Real Money Gaming Revenue per Average Active Customer8,9 of £106, an increase of 4% year-on-year
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SOURCE: RNS London Stock Exchange