Perform Group IMS Q3 2013

Perform2Perform Group plc, the leading digital sports media group, today issues its interim management statement for the three months ending 30 September 2013.

Oliver Slipper, Joint Chief Executive Officer, said: “We are pleased to good performance in our core business areas in Q3, with year on year total revenue growth of 31%.  We ahve over £200m of revenues contracted for 2013 and we remain on track to deliver strong revenue growth in line with the Board’s expectation.  EBITDA is expected to be c£4m lower than our previous expectations reflecting the second-half performance of Technology and Production.

“As previously stated we continue to refocus our efforts within Technology and Production on Advertising or Subscription revenue share based contracts rather than one-off build or on-going service fees, and this strategic shift is affecting our EBITDA in 2013.  We are in the process of realigning our cost base in this area to better match the long term revenue opportunity in Technology and Production.

“We are pleased with progress on the 2014 Watch&Bet renewals and remain confident of a successful renewal process, in line with expectations.

“We continue to execute against our growth strategy and are investing in new content and expanding our geographical presence.  We successfully completed the acquisition of the sports data business Opta in July and since acquisition the business has performed strongly and integration is on track.  Our acquisition pipeline remains strong and we expect to close a number of deals in the coming months, which together with prior acquisitions and our organic investments will continue to strengthen our market position and drive our long-term sustainable growth.”

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