More Good News From Fun Technologies
Published: Saturday, February 11, 2006 Online-Casinos.com
MORE GOOD NEWS FROM FUN TECHNOLOGIES
Year end prelims have some positive numbers
Canadian based but London-listed FUN Technologies continued to power ahead in 2005 according to preliminary year-end results released this week, highlighting its consolidation activities and organic growth throughout 2005.
Annual turnover reached GBP 13.6 million, with GBP 9.4 million attributable to acquisitions made in 2005, up from a mere GBP 1 million for the same period for 2004. Quarterly turnover rose to GBP 5.5 million, with GBP 4.2 million attributable to acquisitions made in 2005, up by almost an order of magnitude from GBP 541,000 for the same period for 2004.
CEO Lorne Abony commented: “I am pleased to report another strong quarter, capping off a successful year for the company. We have exceeded our goals of rapid organic growth, strategic acquisitions and significant new distribution partnerships.”
FUNtech focused on the casual games products it intends to distribute via its partner sites and through Liberty Media’s network of TV channels and media outlets and reported that it had also acquired mobile games software developer Octopi in January 2006 to develop growth revenues in the mobile gaming sector (see earlier Online-Casinos.com and InfoPowa reports).
Through its skill gaming subsidiary SkillJam, the group has signed an agreement with the UK’s biggest-selling daily newspaper The Sun this month, to provide its official website with a white-label skill gaming platform.
“The Sun has tremendous brand identity and reach throughout the UK, both through its daily newspaper distribution and major online presence. This partnership represents an important landmark in the growth of SkillJam’s network of European customers,” Abony said
