British arcade operator Talarius achieved revenue growth of 33.6 per cent in its half year results, reaching A$52.8m for the six months to 31 December 2013.
This resulted from organic sales growth, contributions from acquisitions and favorable foreign exchange movements. EBITDA for the period increased significantly reaching A$1.9m, up 237.8 per cent
Talarius operates gaming machines in high street venues and selected motorway service areas across the United Kingdom, mainly under the Quicksilver brand.
Robbie Cooke, Managing Director and CEO of Tatts who owns Talarius, said: “I am very pleased to highlight the turn-around achieved by our team in the UK. Our Talarius business for the first time has delivered a positive profit contribution to the Group adding $1.9m to EBIT. This is due to our UK team having a single-minded focus on repositioning the business and getting our customer proposition right in anticipation of a gradual recovery in the UK economy and consumer spending.”
Initiatives undertaken by Talarius have included right-sizing the gaming machine estate to reduce overlapping venues, implementing a “no-frills” operating model for lower performing venues, extended opening times for certain high performing venues, retail property refurbishment in venues with revenue uplift potential and continuing cost control.
Key economic indicators in the UK are all pointing towards the economy recovering from its depressed state of the past five years and this should, over time, improve customer confidence and lift customer spending on retail and entertainment products to the benefit of the Talarius operation.