Business
Half Year Results
Half Year Results.
About this update from Gfinity Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5557G\n Gfinity PLC\n 30 March 2022\n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 30 March 2022\n \n \n \n \n \n \n \n \n Gfinity plc\n \n \n (\"Gfinity\" or the \"Company\")\n \n \n \n \n \n Half Year Results\n \n \n \n \n \n Gfinity (AIM: GFIN), a world-leading esports solutions provider, announces its unaudited results for the six-month period ended 31 December 2021.\n \n \n Financial Highlights:\n \n \n · \n Continued improvement in financial performance through sustained strategic focus on what the Company owns, with Gfinity Digital Media ('GDM') driving growth in the business.\n \n \n · \n Revenue of £3.3m, an increase of 8% year on year (H1 21: £3.0m) and 22% improvement on previous 6 months (H2 21: £2.7m).\n \n \n · \n Adjusted operating loss[1] of £0.4m, 53% improvement year on year (H1 21: £0.9m loss) and 76% improvement on previous 6 months (H2 21: £1.8m loss) as the business continues on its path towards profitability.\n \n \n · \n Reduction in Adjusted administrative expenses[2] of 4% to £2.4m (H1 21: £2.5m).\n \n \n · \n Business well capitalised to continue to deliver on its objectives following successful fundraising, underlining confidence in the Company's long-term performance.\n \n \n \n \n \n Operational Highlights:\n \n \n \n \n \n Strategic focus on 'what we own' delivering improved financial performance and growth\n \n \n \n \n \n Gfinity Digital Media:\n \n \n · \n Continued growth of publishing platform, with revenues up 62% year on year to £1.6m (H1 21: £1.0m) driven by increased annualised revenue per user of 23.3p (up 31% year on year) and 23% rise in Average Monthly Active Users to 13.9m.\n \n \n · \n 43% year on year improvement in Gross profit to £1.0m. Clear profitable growth engine that is driving the continuation of the Group's pathway to profitability.\n \n \n · \n Successful acquisitions of SiegeGG, including technology behind leading statistical analysis of Rainbow Six Siege video game, and Stock Info...