JPJ Group PLC Announces 1st Quarter Results

ACCESSWIRE
15 May 2019, 16:01 GMT+10

JPJ Group plc Results for the Three Months Ended 31 March 2019

Gaming revenue up 13% year-on-year, with adjusted EBITDA up 16%

Trading in line with expectations

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 (Pound m)	Three months ended 31 March 2018 (Pound m)	Change (%)
Gamingrevenue	83.3	74.0	13
Netincome/(loss) from continuing operations (as reported under IFRS)	7.9	(8.0)	-
AdjustedEBITDA²	29.0	24.9	16
Adjustednet income²	22.6	19.1	18
Operatingcash flows	20.6	24.4	(16)
Dilutednet income/(loss) per share from continuing operations³	0.11	(0.11)	-
Dilutedadjusted net income per share from continuing operations^2,³	0.30	0.26	15

Financial highlights forfirst quarter

• Good financial performance

o Gaming revenue rose 13% year-on-year, driven by strong organic growth⁴ at Vera&John

o Adjusted EBITDA²increased 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 Pound 18.0 million on 12 March 2019 - a Pound 12.0 million cash consideration was received upfront with the outstanding Pound 6.0 million to be paid in September 2019

o Free cash flow⁵ of Pound 18.8 million and adjusted net debt⁶ of Pound 274.8 million (compared to Pound 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 KPIs^8,9 year-on-year:

o Average Active Customers per Month^8,9 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 Month^8,9 grew to Pound 25.7 million, an increase of 12% year-on-year

o Monthly Real Money Gaming Revenue per Average Active Customer^8,9 of Pound 106, an increase of 4% year-on-year

Click on, or paste the following link into your web browser, to view the full announcement

http://www.rns-pdf.londonstockexchange.com/rns/0366Z_1-2019-5-14.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: RNS London Stock Exchange

View source version on accesswire.com:
https://www.accesswire.com/545457/JPJ-Group-PLC-Announces-1st-Quarter-Results

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Atlanta Leader.

More Information

72 ℉

Mostly Cloudy in Atlanta

International

Section

News Corp shuts down 112 historic Australian newspapers

SYDNEY, NSW, Australia - The largest publisher of newspapers in Australia, Rupert Murdoch's News Corp has closed 112 suburban and ...

U.S. president to step up pressure on Facebook, Twitter

WHITE HOUSE - U.S. President Donald Trump will sign an executive order Thursday regarding social media platforms, after Twitter tagged ...

Hair salons adapt to evolving new standards

When this writer recently looked into the mirror and took a good look at how long his hair had grown ...

How London's 100 or so billionaires are faring

Over cups of tea in his ramshackle London home I chatted with a novelist. It felt a valuable opportunity, given ...

Are the Golden Days over?

As lockdown measures start to be eased in most countries around the world, the experts of The Conversation's global network ...

Australian-based News Corp reporter and whistleblower escape charges

CANBERRA, Australia - Australian Federal Police said Wednesday they were dropping an investigation of a prominent journalist who obtained classified ...