Best of the Best PLC – Final Results
Best of the Best Plc release preliminary results For the year ended 30 April 2019.
KEY HIGHLIGHTS:
- Revenue increased by 14.4% to £14.81 million (2018: £12.95 million)
- Online sales during the period accounted for £14.3 million of revenue or circa 97% of the total
- Operating profit before exceptional items increased by 31.9% to £2.11 million (2018: £1.60 million)
- Net assets of £1.28 million, underpinned by cash balances of £2.54 million
- Proposed 2.0p ordinary dividend to be paid on 27 September 2019
- Tender offer completed in February 2019 returned £3.5m to qualifying shareholders following successful conclusion of a VAT claim
- Adjusted earnings per share increased by 32.3% to 17.62p (2018: 13.32p)
- Continued success with marketing initiatives, resulting in an encouraging increase in online sales
- Revenues now almost exclusively online, with just one airport location remaining
- Competitions, pricing and strategy now designed for our growing online customer base, enabling increased marketing investment in player acquisition and retention
William Hindmarch, Chief Executive, said:
“I am pleased to report continued solid progress with an encouraging set of final results showing both increased revenues and profits before tax, both of which are slightly ahead of management’s expectations. The transformation to become a pure online business is largely complete and has been a success, giving us more flexibility and focus, as well as efficiency and cost savings.
We continue to increase our marketing investment across all acquisition and retention channels and look forward to updating shareholders with further progress in due course.”
Please visit www.botb.com for further information.