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Veltyco Group Plc

Veltyco Group PLC Final Results

Veltyco Group PLC (LON:VLTY), the AIM quoted marketing company for the gaming sector, is pleased to announce its final results for the year ended 31 December 2016.

 

Financial highlights

· Revenue for the year increased 133% to €6,082,468 (2015: €2,609,149)

· Operating EBITDA (which excludes the listing expenses which the company incurred for the process of the reverse merger) for the year increased 200% to €2,107,975 (2015: €701,019)

· Raised €993,622 before expenses in the process of the reverse takeover

 

Operational highlights

· Successfully completed the reverse takeover of Sheltyco Enterprises Group Ltd and re-admission to AIM on 30 June 2016

· Executed a consolidation of ordinary shares on 30 June 2016 of 25 to 1

· Successfully added new marketing agreements to the Group’s portfolio

 

Current trading

· Trading in the first quarter of 2017 continues to be strong

· Revenues exceeded €2.75 million for the first three months of 2017

· Acquisitions announced in April 2017 broadening Group’s offering

 

David Mathewson, Chairman of Veltyco commented: After a year of transition in which the Group completed its reverse takeover, strengthened the board and entered into new trading activities, Veltyco is now positioned for considerable future growth. The two acquisitions that were announced in April 2017 provide further exciting opportunities and broaden the Group’s offering and revenue streams.

The current financial year has started strongly. The Board believes that it will maintain this momentum for the remainder of the year and is confident that the Group will continue to deliver strong growth.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.