News blog
Probability
- BY: Andrew Hore |
- POSTED: 26/04/2010 |
Mobile gaming provider Probability has produced slightly weaker year-on-year fourth quarter comparatives.
Net gaming revenue was barely changed from the previous quarter or the same quarter in the previous year. New customer additions were lower than both comparators.
The fourth quarter net gaming revenues was £1.12m and there were 41,825 customers added during the period.
Probability is forecast to report a £500,000 loss in the year to March 2010 but move into profit next year.
There has been a cash outflow during the year but net cash is still £1.64m. That is after £230,000 of advanced payments to the Alderney Gambling Control Commission and commercial partners. Probability has also been investing in technology and games.
Figures for the year to March 2010 will be published at the end of July.
Probability plans to launch games for the iPhone and iPad and expects to grow its business-to-business operations. The company says that its technology can be adapted relatively quickly.
At 45p a share, Probability is valued at £9.72m.
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