Commenting on the results, David Mathewson, Chairman, said: “It has been an exciting period for the Group and we are very happy to release these interim statements, the first after successfully completing the reverse acquisition of Sheltyco Enterprises Group Ltd. Following the acquisition, the Company changed its name from Velox3 plc to Veltyco Group plc and welcomed the new Directors to the Board.
Trading in the third quarter of 2016 has started well showing increased traffic in the lottery and binary options businesses. The casino and sportsbook traffic remains on target, showing a small increase from prior year activities.
The Directors continue to actively review potential acquisition opportunities which fit into the Company’s profile.”
Veltyco LON:VLTY, the AIM quoted company focused on generating marketing leads and entering into marketing contracts for the activities of its partners in sports betting, casinos, lottery and binary options announces its unaudited interim results for the six months ended 30 June 2016.
Financial Highlights
· Revenues increased by 78% to €2,102,558 (1H 2015: €1,179,379)
· EBITDA for the first six months increased 127% to €744,129 (1H 2015: €326,609)
· Operating profit of increased 134% to €471,361 (1H 2015: €201,304)
· Raised €707,950 before expenses in the process of the reverse takeover
Operations Highlights
· Successfully completed the reverse takeover of Sheltyco Enterprises Group Ltd
· Successfully completed re-admission to AIM on 30 June 2016
· Uwe Lenhoff, Hans Dahlgren and Marcel Noordeloos joined the Board of Directors on re-admission
· Restructuring of the Group has been completed
· Executed a consolidation of ordinary shares of 25 to 1