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Playtech H1 Profit Down, Adj. EBITDA Climbs; Says Confident Of Rest Of FY22, Beyond

Playtech Plc (PTEC.L), a gambling software development company, Thursday reported that its first-half post-tax profit declined 82 percent to 71.4 million euros from 401.9 million euros last year.

Earnings per share were 22.9 euro cents, down from 128.0 euro cents a year ago.

Adjusted post-tax profit was 94.3 million euros or 30.2 cents per share, compared to 54.6 million euros or 17.4 cents per share last year.

The first-half financial performance was ahead of previous expectations with Adjusted EBITDA of 203.8 million euros, up 64% from last year.

Revenue climbed 73 percent to 792.3 million euros from 457.4 million euros a year ago. Revenues grew 71 percent at constant rates.

Looking ahead, the company said its Board remains confident of future prospects citing the strong performance so far in 2022 and momentum within the business.

Mor Weizer, CEO, said, "The macroeconomic outlook remains uncertain given geopolitical tensions and inflationary pressures, however we have seen our excellent performance in H1 continue into H2 and expect to see continued strong results from both our B2B and B2C businesses. As such, we are confident about Playtech's prospects for the remainder of 2022 and beyond."

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