SBC News Voice of the Sports Betting Industry
Nordic Nasdaq-listed European online gambling group Mr Green & Co (Mr Green), is confident of hitting its full-year targets and corporate expectations having achieved its ‘best ever’ quarter in business this Q2 2017.
Presenting its H1 2017 interim results (period ending 30 June), Mr Green detailed that group Q2 2017 revenues had reached SEK 287 million (£26.7 million), up 36% on corresponding 2016 results.
Its strong Q2 revenue performance would see the company declare a group EBITDA of SEK 52 million (£4.8 million) up 337% on Q2 2016’s SEK 12 million.
Updating investors on H1 performance, Mr Green would declare period group revenues of SEK 563 million (£53 million), combined with a group EBITDA increase of 105% to SEK 87 million/£8.1 million (H1 2016: SEK 42 million).
Mr Green’s governance stated that its strong H1 metrics were a testament of the firm implementing its ’2.0 business strategy’ which improved all-round group ‘operational efficiency, cost awareness and scalability’.
Mr Green CEO Per Norman commented on H1 2017 corporate performance:
“Our customers like what we do and we are capturing market shares in many parts of Europe. Customers appreciate that we have improved both our customer communication and user experience.”
“Starting in the third quarter of 2016, we turned around the negative trend and due to our Mr Green 2.0 business strategy, our growth since then has been strong. For the third consecutive quarter, we delivered sales growth that exceeded our target of annual growth of 20 per cent. We also came close to achieving our profitability target of an EBITDA margin of 20 per cent.”
