GVC revenues continue to rise as it switches NOMAD
Company appoints Cenkos Securities as Nominated Adviser as early Q4 revenues up more than 50% year-on-year
GVC Holdings announced this morning it has appointed Cenkos Securities as its nominated adviser and broker with immediate effect in a statement that also revealed current trading was 50% up on the previous year.
Cenkos takes over from Daniel Stewart & Co., which had acted on behalf of GVC since its appointment in September 2011 and advised the company on its transformational purchase of Sportingbet’s non-Spain and Australia-facing business in 2013.
GVC used the announcement to confirm full third quarter average daily net revenues totalled 646,000, 24% up on the same period in 2013 and an increase on the 628,000 figure it had reported on 22 September.
The company also revealed it had enjoyed a quick start to Q4 with average daily revenues for the first half of October at 800,000, more than 50% higher than the corresponding figure last year, which it attributed to a combination of “growth and a strong sports margin” of 12.4%.
It also said trading was strong across all of its major territories as a result of what it called a “World Cup legacy” assisted by a brand-building and marketing campaign over the last 12 months.
Last month the firm revealed it planned to enter the Asian market next year though the creation of a new brand while it has also applied for a Bulgarian operating licence.
The firm anticipates making a further trading announcement on or before 19 December.