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Revenues growth predicted for Perform Group

perform groupBritish digital sports media specialist Perform Group has issued a pre-close trading update relating to its financial performance for the six months to the end of June and showing that it expects to post a year-on-year increase in total revenues of around 37 percent.

Feltham-based Perform Group is the firm behind the LiveSport.tv on-demand and live sports video application integrated on Facebook along with the Goal.com website and signed a deal in March to acquire leading Dutch sports site Voetbalzone.nl.

Perform Group revealed that it expects to report total revenues of around £92 million for the six months to June 30 while it has already been contracted some £166 million in business for full-year 2013, which represents a rise of 26.7 percent year-on-year.

April saw Perform Group establish the new Perform Sporting News Limited joint venture with print and digital news provider American City Business Journals Incorporated and it declared that this enterprise is already ranked as one of the top five ventures in its sector with ‘good progress’ being made in terms of ‘business integration’ alongside ‘positive advertising market reaction’.

Perform Group stated that 2014 license renewal negotiations for its Watch&Bet live video streaming service had already begun with ‘positive early progress so far’ while the re-branding and re-launching of Goal.com across multiple platforms has resulted in ‘markedly enhanced user experience, improved natural search referrals and increased page views per visit’.

“We are pleased to report that our good performance has continued across [the first half of our financial year] with year-on-year revenue growth of circa 37 percent,” said Oliver Slipper, Joint Chief Executive Officer for Perform Group.

“£166 million of revenues are contracted for 2013 and we are on track to deliver another year of strong revenue growth.

“We continue to execute against our growth strategy. In [the first half] we invested in new content and expanded our geographic presence, both organically and through acquisition, in particular in the United States and Canada.

These investments, together with additional investment in [the second half], in content, partnerships and further acquisitions will materially strengthen our market position and drive our long-term sustainable growth.”

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