Blue-blood Recreation witnessed its earnings soar to AU$1 billion (roughly £490 million) in the half-year ending March 31st, representing a 47% increase compared to the corresponding period last year.
The entertainment powerhouse declared a net income after taxes and before amortization of acquired intangibles (NPATA) of AU$183.2 million, a substantial 66% year-over-year leap. Profit before interest, taxes, depreciation, and amortization (EBITDA) also experienced remarkable expansion, hitting AU$372.4 million, a 53% rise.
This exceptional showing was ascribed to various elements, encompassing Blue-blood Recreation’s growing presence in its primary North American and Australian markets, elevated average earnings per unit, and a boost in daily charges. The firm’s online social gaming division also played a crucial part, generating sustained profit increases and unprecedented daily active players.
Moreover, Blue-blood Recreation successfully trimmed its net debt (cash) from AU$1.48 billion to AU$1.23 billion, lowering its net debt to EBITDA ratio from 2.9 times to 1.9 times.
A particularly notable aspect is that despite a considerable surge in the Australian direct sales market during this timeframe, recurring revenue streams still constituted a robust 50% of overall revenue.
Jamie Odell, Chief Executive Officer of Blue-blood Recreation, conveyed his contentment with the company’s results, remarking, “Blue-blood Recreation delivered a robust performance in the initial six months of fiscal 2016, signifying our tenth consecutive quarter of profit expansion.”
Looking forward, Odell anticipated that NPATA for the latter half of the 2016 fiscal year would be “generally consistent” with the first half.
The market responded positively to this encouraging news, with Blue-blood Recreation’s stock price on the Australian Securities Exchange experiencing a minor uptick from AU$12.43 to AU$12.45 on Thursday.