Business
Interim Results
Interim Results.
About this update from Gfinity Plc
[{"type":"text","content":"\n \nRNS Number : 8217S Gfinity PLC 22 March 2016 \n\n \n \n22 March 2016\n \n \nGfinity plc\n(\"Gfinity\" or the \"Company\")\n \nUnaudited interim financial statements for the period ended 31 December 2015\n \nGfinity (AIM: GFIN), a leading eSports business, announces its interim financial results for the six month period ended 31 December 2015. \n \nDelivering on strategy \n· 58.5 million views - Proved ability to attract high viewership across calendar year 2015 from a hard to reach and valuable demographic \n· Quality - Enhanced reputation for quality across game publishers, players and community\n· Complete turnkey solution - Continued the investment in assets, providing Gfinity with unique capability to provide a leading, scalable end to end solution for partners \n· Online platform - Tournament Platform for both console and PC delivering more than 25 tournaments a week\n· Streaming - Created one of London's leading streaming studios in the Arena, using industry leading 4k ready technology\n· Events - Hosted 27 events at the Gfinity Arena over the course of 2015 for the World's top players and publishers\n· Sponsorship/Advertising- Increasing interest from sponsors and advertisers attracted to high viewership and targeted audience\n \nFinancial highlights \n· Revenues increased by 329% to £624,292 (H1 2015: £145,401); up 50% sequentially from £415,427 in the six months to June 2015, resulting from a mix of sponsorship, fees from game publishers and platform providers, premium subscriptions and advertising\n· Operating Loss increased to £1.8 million (H1 2015: Operating Loss of £1.3 million), reflecting the planned investment to position the Company for growth\n· Raised a further £1.0 million (net of costs) through a placing in November 2015\n· Net cash as at 31 December amounted to £1.55 million (30 June 2015: £2.73 million; 31 December 2014: £4.68 million). As at the date of announcement net cash amounted to £1.25 million\n \nOperational highlights \n· Gfinity Championships - The 2015 Gfinity Championships, a set of 23 tourna...