Playtech (PTEC.L) reported that its profit attributable to owners of the company for the six months to 30 June 2024 significantly increased to 10.2 million euros or 3.2 cents per share from last year's 3.1 million euros or 1.0 cents per share, due to the prior period including an overall reduction in the fair value of the derivative financial assets recognised in the income statement, and the derecognition of brought forward deferred tax assets. The latest-period result included an impairment related to sports, offset by an increase in fair values of equity investments and derivative financial assets.
Profit before tax increased to 93.5 million euros from 79.6 million euros in the prior year.
Adjusted profit before tax grew to 151.2 million euros from the prior year's 139.3 million euros, driven mainly by the rise in Adjusted EBITDA and decrease in net financing costs, partly offset by the increase in amortization and depreciation.
Revenues rose to 906.8 million euros from 859.6 million euros in the prior year.
During 2024 the Group did not pay any dividends.
The company said it is on track to deliver fiscal year 2024 adjusted EBITDA slightly ahead of expectations. It is on track to be within its B2B Adjusted EBITDA medium-term target range of 200 million euros to 250 million euros in fiscal year 2024, earlier than anticipated.
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