Perform Group plc Q1 Interim Management Statement 8th May, 2014 Statement for the three months to 31 March 2014.

8 May 2014, Perform Group plc

Q1 Interim Management Statement

Perform Group plc, the leading digital sports media group, today issues its interim management statement for the three months to 31 March 2014 ("the period").

Highlights

  • Year on year revenue growth of 32% to £56.9m (Q1 2013: £43.0m)
  • Content Distribution revenues up 32% in Q1, attributable to new Watch & Bet Contracts and a strong contribution from Opta acquired in 2013.
  • Strong Q1 display advertising performance; business is well positioned for the 2014 World Cup.
  • ePlayer headline quarterly sell through rate of 51% and total quarterly streams viewed 1.5 billion. (Q1 2013: sell through rate of 43% and 1.1 billion total streams).
  • Cost reduction plan on track with benefits to come through in H2 in line with guidance.
  • On track to achieve FY14 revenue and adjusted EBITDA growth in line with board expectations. The timing of the cost reduction benefits will result in a H1/H2 EBITDA split close to one third and two thirds.
  • Appointment of Chief Financial Officer - Ashley Milton. Ashley is currently CFO of Group M EMEA, the Media Investment division of WPP, the world's largest advertising and marketing group. Prior to joining GroupM in 2011, Ashley was Group Finance Director of Tarsus Group plc and his earlier career included senior finance roles at Aegis Group.

Simon Denyer, Joint Chief Executive Officer, said:

"We are pleased to report that the group has made a positive start to 2014, with Q1 showing strong year on year revenue growth. Good early progress has been made on the cost reduction plans laid out at the full year results and we remain on track to hit our cost base targets. Overall the Group remains confident that it will deliver full year revenue and EBITDA growth in line with the board expectations."

"We are delighted to appoint Ashley as our new CFO and that the Group has attracted such high calibre talent. Ashley brings with him an excellent track record as a CFO and also a highly valuable breadth and depth of experience of the advertising sector, which is a significant strategic focus of the Group."

A full copy of the Interim Management Statement can be viewed at our investors' website

Conference call

 A conference call for analysts and investors is being held today at 08:00
Dial in: +44 (0) 20 3139 4830 
Participant code: 20513561#

A replay facility will be available following the call for a period of 7 days
Replay dial-in: +44 (0)20 3426 2807
Replay passcode: 648108#

Enquiries:

Perform Group plc Polly Elvin Telephone +44 (0) 203 372 0600 Tulchan Communications Stephen Malthouse / Giles Kernick Telephone +44 (0) 207 353 4200

distributed by