May 22 - NetPlay TV Plc showed a full year loss in its 2007 report,
after the company's gross profit declined to 1.6 million GBP - a 25% drop -
compared to last year's profit of 1.8 million GBP. These numbers resulted in a
loss of nearly 5 million GBP for the year ending December 31st, 2007.
Nevertheless, NetPlay managed to report a 61% increase in revenues to 9.4
million GBP in 2007. News of the increase resulted in the company's shares
trading nearly 5% higher in London this week.
The loss was explained by the fact that NetPlay had embarked on an aggressive
expansion policy last year, acquiring a number of strategic offerings, including
Abstract Games Limited and Monday SuperDraw. The company also poured funds into
the launching of its Big Bingo interactive television show.
The CEO of NetPlay, Martin Higginson said about the results of the report:
"It is extremely encouraging to see the strategic investment decisions we made
in 2007 beginning to show excellent results in 2008. We firmly believe in the
future commercial strengths of a converged gaming offering. Providing the
customer with a trusted "live" interactive gaming experience helps build trust
and loyalty in our gaming brands. This in turn helps secure a longer customer
life time value and therefore greater profitability."
"This year we will continue to launch new formats to our audience, giving
them an even greater choice of games in a trusted environment," explained
Higginson. "The acquisition of Bingo.com will allow us to build more robust
systems across platforms as we strive to build the leading European interactive
gaming business."
| 
