Last week, the Canada-based company Intertain Group Limited revealed its preliminary results for the third-month and nine-month periods ended on September 30th. Finally, the operator has officially announced its financial results for the above-mentioned periods.
The President and Chief Executive Officer of Intertain Andrew McIver commented on the company’s performance, describing it as a strong one. According to him, the financial data provided came as a proof of the increasing popularity of Intertain’s brands among customers. Mr. McIver explained that the higher revenue has been pushed up by the stable performance of its units in their functional currencies. As revealed by the company’s boss, the growth registered in all segments of the operator had resulted in a 10% gaming revenue increase on a constant currency basis.
Overall, the latest financial report of the company confirmed the preliminary results regarding the operating cash flow and the average number of active customers over the quarter. The operating cash flow reported by Intertain amounted to $31.8 million. The number of active customers on a monthly basis increased by 11% in comparison to the 207,768 reported in the third quarter of 2015, reaching a total of 231,214 in the three months ended September 2016.
According to the data provided in Intertain’s report, the company gaming revenue rose by 10% and reached a total of $113.6 million. However, the largest online bingo-led operator widened its net loss over the three months ended in September, which is estimated to $31.8 million under the International Financial Reporting Standards (IFRS). In comparison, the net loss of the company for the year-ago period amounted to $17.5 million.
The company also shared that its adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to $43.8 million. This result represented a 17% increase on a constant currency basis compared to the EBITDA reported by the company in the three months ended in September 2015, which was estimated to $43.703 million. On the other hand, there was a 25% increase in Intertain’s adjusted net income. The latter reached $36.3 million, while in the third quarter of the fiscal 2015 it amounted to $36.5 million.
In addition to the results announced in the report, Canada-based Intertain also confirmed its annual outlook for the fiscal 2016. The company said that it expects a total full-year revenue in the range from $460 million to $500 million. The total adjusted EBITDA forecast by the company would be between $175 million and $195 million, while the total adjusted net income for the 12-month period are expected to range from $140 million to $160 million.
- Author
Olivia Cole
