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Catalyst Media Group on Friday said its net asset value per share soared and it swung to an annual profit, while it also declared an increased total dividend from nil a year prior.
The London-based media solutions provider and 21% shareholder of betting services supplier Sports Information Services Holdings Ltd said NAV per share on June 30 was 168.90 pence, multiplying from 52.30p a year earlier.
Shares in Catalyst Media were up 4.6% to 125.00p each in London on Friday morning.
Pretax profit in the financial year that ended June 30 was £7.0 million, swinging from a restated loss of £7.8 million a year earlier.
Revenue was up 68% to £218.3 million from £130.1 million, while operating expenses narrowed by 51% to £211.5 million from £140.0 million. It also said it benefited from reversing historic impairment charges relating to the carrying value of its interest in SIS to £23.4 million from a loss of £1.6 million.
It also declared a total dividend of 3.3p to shareholders, up from nil a year earlier and reflecting its positive trading performance.
Catalyst Media said it was informed by SIS it expects to close its financial year ending in March with an increased turnover compared to the previous year.
‘SIS has started its new financial year well, and management continues to pursue and win new business opportunities both in terms of content acquisition, most recently securing new rights for South African Horseracing, and new customers, with the most recent deals announced being Spreadex in the UK and Estelarbet in South America,’ said Chair Michael Rosenberg.
‘SIS has also recently launched the first of its esports offerings in New Jersey with bet365 as its first customer which marks another significant step in the further geographic diversification of the business.’
By Greg Rosenvinge, Alliance News reporter
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