Digital media company Perform generated an 84-per-cent rise in year-on-year profit after tax to £8.56 million (€10.98 million/$13.5 million) in the six months to June 30, 2012.
Perform said that the figure, up from a profit after tax of £4.65 million in the corresponding six-month period in 2011, was generated by strong advertising sales, an increase in customers for subscription services and a higher number of licensees for Watch&Bet, the live streaming service for online direct-to-customer sportsbooks.
Perform generated turnover of £67.36 million in the first half of 2012, a 49-per-cent increase on £45.09 million in the first half of 2011.
The Reuters news agency said that revenue from display and video advertising increased by 190 per cent and 174 per cent, respectively, to a combined total of £14.83 million on the back of interest in footage related to the Uefa Euro 2012 national team football tournament.
There was a 23-per-cent increase in customers, from 323,000 to 398,000, for the company’s subscription services.
There were also 40 Watch&Bet licensees by the end of June 2012 – up from 30 in the corresponding period in 2011.
The company said that more than £131 million in full-year revenues had already been contracted through to the end of 2012.
“We are pleased to be able to report another strong operational and financial performance today, which reflects the successful execution of our growth strategy,” Perform joint chief executive Oliver Slipper said. “We have reported substantial increases in revenues and earnings whilst significantly expanding our rights portfolio, licensees, video streams and subscriber numbers. We have also delivered significant growth in advertising revenues with this revenue segment now representing 22 per cent of the group’s total revenues compared to 11 per cent in the same period last year.”