Probability plc : Trading Update: Q2 FY12/13

RNS

Probability plc ( "Probability" or "the Company")

Trading Update

35% revenue growth in 2nd Quarter.

Probability plc, the mobile gambling specialist, is pleased to update investors on trading performance for the quarter from July 1 to September 30 2012.

Financial highlights (unaudited)

• Net Gaming Revenue for the period was £2.30m, an increase of 35.3% compared to the same period last year (Q2 FY12: £1.70m)
• Deposits from players in the period were 44% higher than the same period last year.

Operational highlights

• "LadyLuck's" iPhone App has been downloaded over 40,000 times since being introduced in June 2012, and is regularly in the top five downloads for our categories in the UK App Store.
• In Italy, the Company's Playyoo subsidiary has launched an iPhone and iPad football betting application for SNAI, to coincide with the opening of the Italian football season. Betting volumes have been higher than expected in this new market.
• "Long John's Silver" slot game for iOS and Android devices was launched during August, becoming the quickest game to achieve £1m of total bets, in under two weeks.
• Partnership with Glu Mobile INC (NASDAQ: GLUU) to develop mobile gambling games and services based on GLU's popular mobile games.

Commenting on the trading update, Probability CEO Charles Cohen said:

"We are very pleased with the performance this quarter. Our customers did not appear overly distracted by the Olympics, but then we did all spend a lot of time in front of the TV waiting for events to start - a perfect opportunity to have a quick play with our games.

"The Playyoo business which we acquired in the summer is developing well, with existing Italian B2B clients expanding the range of games they take from us and new clients showing strong interest in the offering.

"Preparations are on track for our Slots games to be introduced into Italy later this year and we hope to begin the certification process very soon. A small amount of revenue from Playyoo is included in these results for the first time, and we expect this contribution to grow significantly over time.

"In the UK market, our investment in new customer acquisition through TV and other digital media has continued to deliver encouraging results in line with expectations.

"We are confident that we can continue or even accelerate this activity based on the strength of the returns we are seeing from these customers, whilst retaining our disciplined approach to marketing investment."

ENDS

For more information visit www.probability.co.uk or follow @probabilityplc

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