The online gambling boom has sent sales and profits soaring at Perform, a provider of live and edited sports video for betting websites across Europe.
Perform said tough economic times in the wider sports betting market “have not, to date, had a detrimental effect” on its own business, which is growing fast with the popularity of smartphones and mobile devices.
Pre-tax profits surged fivefold to £16.9 million, with turnover up by almost half to £151.6 million, thanks to big events such the Euro 2012 football tournament. Subscriber growth for its mobile services was up 36%.
In a further sign of confidence, co-chief executive Oliver Slipper is buying Dutch football website Voetbalzone for up to €12.5 million (£xx million), based on hitting future profit targets.
Jane Anscombe, analyst at Edison Investment Research, said the stock market value of Peform, which floated in 2011, is pricey and “leaves little room for slip-ups but so far the company has not put a foot wrong”.
She said: “Perform already has contracted revenues of £130m for 2013 and small bolt-on deals such as today's Dutch football website are attractive.”
The shares have doubled in two years since the float, valuing Perform at almost £1 billion.
