British gambling operator Gala Coral Group announced its financial results for this fiscal year’s first half ended April 11. The gaming company posted increase in both net revenue and EBITDA.
Total net revenue for the first half of the fiscal year amounted to £684.8 million compared to £650.1 million reported for the same period a year ago. Coral’s retail operations generated a total of £366.2 million. In comparison, the amount of £365 million was posted in 2014. Net revenue from Eurobet retail totaled £42.5 million, up £0.5 million year-on-year.
Gala Coral’s online operations posted the most considerable increase in net revenue. The amount of £123.3 million was generated during the period in review compared to £89.5 million reported in 2014.
After reviewing its customer segmentation, the company started reporting its online high roller activity as a separate segment. Thus, net revenue from high rollers amounted to £1.1 million in the first half of the year.
Net revenue from Coral Telebet services increased £0.1 million to reach £2.7 million during the reported period.
Gala’s retail operations were the only segment to post a decrease in net revenue. It dropped by £2 million to £149 million.
The group’s total EBITDA amounted to £135.4 million, up 10% as compared to what was reported a year ago. The figure actually rose to 19% adjusting for certain regulatory impacts and “exceptionally poor” Italian football margins.
An increase was posted in the group’s gross profit as well. During the period in review, Gala Coral generated gross profit of £492.4 million compared to £470.1 million for the previous year.
The group also reported that as many as 567,000 customers deposited for the first time during the six-month period ended April 11, up 28% as compared to the figures posted in 2014. Furthermore, the Coral Connect omni-channel attracted more than 210,000 new customers.
As for Gala Coral’s retail operations, a total of 1,8465 shops operated by the end of the first half of the fiscal year. As many as 24 shops opened doors during the reported period and 13 were closed down.
Carl Leaver, Chief Executive Officer of the gaming group, attributed its results on the “improved and extended product offering.” He also pointed out that Gala Coral would continue to promote responsible gambling “both within the business and across the wider industry.”
