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32Red Plc Reports Outstanding 2010 Preliminary Figures
Strong figures are reported in 32Red Plc.'s preliminary results of 2010 including an increase of 98% in profit before tax.
32Red Plc., that is listed on the London Stock Exchange, has released its preliminary financial results for the year 2010. The figures released by 32Red demonstrate that a 98% increase was experienced in profit before tax that rose from ₤0.53m in 2009 to ₤1.05m in 2010. Among the main issues, it is also reported that in 2010, 32Red showed an increase of 33% in net gaming wins. This amount rose from ₤12.75 million in 2009 to ₤16.95 million in 2011. The 32Red Casino welcomed 21,853 new casino players in 2010, that is an increase of 14% compared to the previous year.
Ed Ware, Chief Executive Office at 32Red noted that "The excellent performance in 2010 is particularly pleasing in times of continued economic uncertainty in our primary market, the UK. The recruitment of good numbers of new players and our improved customer retention are tribute to the strength of the 32Red brand and to the continued excellent levels of service and entertainment provided to our players."
He also commented that "The 32Red brand has been further strengthened by our victory in the High Court in our trade mark dispute with William Hill. The Judgment which was handed down in January firmly established our Intellectual Property Rights and should deter other operators from infringing our trade marks. As highlighted by the judge, we have an excellent reputation as an online casino operator and a strong brand – these are extremely valuable assets in any marketplace."
Taking into consideration and being aware of the general economic situation and following an increase in revenues for January and February of 2011 in comparison to 2010, 32Red Plc hope for another successful year.
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