Chinese lottery operator DJI excited by prospects
DJI HOLDINGS, which runs lottery websites in China, has announced encouraging maiden results since becoming a listed company in July.
The Cheshire-based firm said it was “very excited” about its future prospects having broken into profit in June, which has been maintained in subsequent months.
Based near Knutsford DJI, which has offices in Beijing, Shanghai and several other major cities. raised £15m in its IPO.
Reflecting both its progress and the fast-growth nature of the Chinese mobile gaming market, gross sales in the six months to the end of June rocketed from £5.6m to £134.1m compared with the first half of 2013. Revenues rose from £517,710 in 2013 to £3.34m. Losses before tax fell from £3.6m to £2.3m.
Chief executive Darren Mercer, said: “2014 has been a very exciting for DJI. Our business has successfully achieved profitability for the first time as a result of the significant growth in our digital business. It has been pleasing to see this momentum in growth and profitability continue into the third quarter.
“Our strong license position and robust technology provide us with an ideal base to grow across both our B2C and B2B platforms. Additionally we continue to work on a number of new developments which we are confident will make a significant contribution in 2015.
“While the China lottery industry has grown considerably online this year, we are seeing indications that mobile is set to make significant gains as a platform of choice for lottery consumers. We are well-positioned to benefit from this trend in the second half of 2014, into 2015 and beyond.”
As well as running its own consumer lottery website DJI provides the gaming technology for seven out of 10 of the biggest websites in China that offer lottery services.
Mr Mercer said he was confident of continued progress in the second half.