BUSINESS

NetPlay TV show improvement; NetEnt chief executive resigns

TAGs: Net Entertainment, netplay tv

NetplayNetPlay TV has forgotten all about the woes of the past year or so by releasing a stellar set of results for the first half of 2011. For the six months to June, the company saw pre-tax profit rise to £0.37m. To a man, it might not sound that impressive. If you throw into the bargain that for the same period last year they posted a loss of £9.8m you can see why it’s such a remarkable figure.

“We are very pleased to report a strong first half. The return to profitability, cash generation and growth in our KPIs are a clear illustration of the benefits the restructuring has brought, and is a testament to the strength of the team that we now have in place,” said non-executive chairman of NetPlay TV Clive Jones.

The company’s total revenues of £10.6m were in line with last year’s figure and they also saw active casino players up by 13.9%. If that’s what restructuring does then we should all give it a go.

Net Entertainment (NetEnt) has accepted the resignation of their chief executive Johan Öhman with immediate effect. The departure was announced on Friday with staff being told that he was leaving for “family reasons.” Vigo Carlund, chairman of the company, has rebuked that theory and toild eGR that the board had been “discussing this for some time” before they had “come to this conclusion.

Carlund continued, “We have parted ways but the company is functioning well and we’re in a good position [with the recent opening of casino licences in Italy]. He [Öhman] will be available to the board for the next three months.”

So get your CVs over to NetEnt if you have “IT and marketing knowledge with good leadership skills.”

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