Probability plc
25 January 2007
Probability plc / Index: AIM / Epic: PBTY / Sector: Travel & Leisure
25 January 2007
Probability plc (‘the Company’)
Third Quarter Key Performance Indicators
Probability plc, the AIM quoted mobile phone gambling specialist, is pleased to
announce its un-audited key performance indicators (‘KPIs’) for the third
financial quarter ended 31 December 2006, which underline the strength of the
business and the considerable progress being achieved.
During the period, the Company completed the up-front investment needed to move
the business forward in 2007, including the appointment of sales and technology
personnel and development of its proprietary mobile gambling platform. This has
resulted in rapid and better than expected uptake of its games in the UK. With
further initiatives being implemented to drive growth and revenue, the expansion
of the business is expected to continue.
Key Performance Indicator Highlights
Three months Three months % change
ended 31 ended 30
December 2006 September 2006
Registers Players 141,103 106,648 32%
Cash Depositors 14,228 10,000 42%
Gross Wagers Processed 3.6m 3.9m* (8)%
*The Company recognised gross revenue from 1 September 2006, the date it became
regulated by Alderney.
New users and total cash depositors showed significant growth during the period
underlining the increased awareness of the Company and its products.
Importantly, the drop in gross wagers processed did not affect gross profit as
the Company experienced higher than forecast play on its high margin Bingo!
service during the Christmas period.
The KPIs reported above are consistent with the definitions that were set out by
the Company in its interim statement released on 14 December 2006.
Cash Position
The Company’s cash position at 3 December 2006 is in line with management
expectations following the up-front investments, at 2.55m, (30 September 2006:
3.5m). The Company is still focused on achieving profitability in its UK
operations in 2007.
Outlook
Management expect the number of registered players in the UK to continue to
increase on average by 10,000 per month to 31 March 2007. The number of cash
depositors is expected to rise to 16,000 for the same period, while gross wagers
processed is expected to recover and range between 4m to 5m for this coming
quarter. Growth is underpinned by the launch of new games, affiliate programmes
and the increase in traffic to Lady Luck’s, the Company’s own branded service.
Charles Cohen, Chief Executive Officer, commented: ‘These KPIs demonstrate the
continued growth of the Company during the period of investment immediately
post-IPO and I believe underline our strong investment case. Whilst Probability
is still in the early stages of its growth, it remains focussed on its goal of
UK profitability this calendar year. We are confident of achieving this within
our current resources.
‘We have grown player numbers twice as quickly this quarter than in the last,
primarily through a strategy of performance and affiliate marketing, a broad
portfolio of cash games designed to appeal to the mobile consumer and developing
our own expertise in customer management to increase yields. We continue to
follow this strategy to provide the basis for sustained and profitable growth
and look forward to the next quarter with confidence.’
* * ENDS * *
For further information visit www.probabilityplc.com or contact:
Charles Cohen (CEO) Probability plc Tel: 020 7290 0640
Ravi Ruparel (FD) Probability plc Tel: 020 7290 0640
Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477
This information is provided by RNS
The company news service from the London Stock Exchange