Best of the Best readies special divi as annual profits, revenues grow
StockMarketWire.com - Best of the Best said Wednesday shareholders would receive a special dividend as annual pre-tax profit rose 5.85% and revenues jumped 13.3%.
For the 12 months to 31 March, profit rose 5.85% to £1.60m and revenues jumped 13.3% to £12.25m.
The uptick in revenue comes as the company lowered the price of its 'Dream Car' competitions, which helped it to not only hold onto existing customers but also win new customers.
'During the year we made some fundamental changes to our competitions, introducing new prizes and making them more accessible by lowering prices significantly. This has helped with the acquisition of new customers and the retention of existing players, resulting in improved overall revenues,' said William Hindmarch, Chief Executive.
Online revenue was £10.87m and like-for-like online revenue rose 23.0% to £10.28m.
The firm declared a special dividend of 4.5p per share, and proposed to raise the final dividend to 1.5p per share from 1.4p the previous year.
At 9:15am: (LON:BOTB) Best Of The Best Plc share price was +18p at 293p
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