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Jackpotjoy Q4 profit climbs YOY

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Jackpotjoy Q4 profit climbs YOY

JPJ Group plc said its fourth-quarter normalized net income was C$5.6 million, a rise from C$15,240 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 8.7% from 0.2% in the year-earlier period.

Total revenue climbed year over year to C$66.9 million from C$10.1 million, and total operating expenses increased on an annual basis to C$55.6 million from C$8.5 million.

Reported net income came to a loss of C$65.7 million, or a loss of 93 cents per share, compared to a loss of C$6.8 million, or a loss of 28 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 3 cents per share, compared with a loss of 5 cents per share in the prior year.

Normalized net income was a loss of C$1.8 million, compared with a loss of C$874,390 in the prior year.

Full-year total revenue rose on an annual basis to C$187.9 million from C$22.6 million, and total operating expenses increased 744.4% year over year to C$171.5 million from C$20.3 million.

The company said reported net income totaled a loss of C$110.9 million, or a loss of C$1.81 per share, in the full year, compared with a loss of C$14.4 million, or a loss of 81 cents per share, the prior year.