Unaudited interim financial statements for the period ended 31 December 2014
Gfinity (AIM: GFIN), a leading eSports business, announces its interim financial results for the six month period ended 31 December 2014. This period mainly relates to the company’s operations prior to its admission to AIM on 22 December 2014.
- Successfully staged G3 at the Copperbox arena at the Queen Elizabeth Olympic Park, London, the third Gfinity branded off-line competition and the UK’s largest ever eSports event:
- Attracted a record UK crowd of almost 4,000 ticket paying spectators
- 7 million online views from 25 countries over a single weekend
- Registered user base increased from 43,000 as at 30 June 2014 to over 300,000 on 31 December 2014;
- Raised £3.5 million, before expenses, from AIM flotation at 17p per share;
- Signed agreement with Pitch International, a leading sales and marketing agency and shareholder in the Company, to package and sell sponsorship and broadcasting rights on Gfinity’s behalf;
- Net cash as at 31 December amounted to £4.68 million.
- Entered strategic collaboration agreement with Vue Cinema to open UK’s first eSports arena for staging of Gfinity Championship series and other eSports events;
- Staged Call of Duty: Advanced Warfare European Championships on behalf of game publisher Activision;
- Strong continued growth in registered users, currently approaching 350,000.
Neville Upton, Co-founder and Chief Executive of Gfinity plc, commented: “The Company crossed a number of major milestones during the first half as we ramp up our operations to take advantage of the booming global market for eSports. During this period, Gfinity established a strong reputation for the quality of our events and production, achieved a 6-fold increase in registered users and made an excellent debut on AIM that provides us with a solid equity capital base to drive growth further.
“These steps have enabled us to consolidate on our early mover advantage in a sector that is growing rapidly. As a result, we remain on track to deliver strong growth in our user base this year and look to the future with great confidence.”