Gfinity (GFIN)

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Gfinity GFIN Logo

A leading international esports entertainment business.

22-Nov-2017 – 23p – £50.2m – PER n/a

Final Results For The Year To End June 2017 – A “Transformational year for a leading international esports group”. Revenue up 64% to £2.37m (£1.45m last time), Loss Before Tax of £5.3m (£3.1m last time), in line with management expectations – Reflecting investment in expanding the executive team, refurbishing the Gfinity Esports Arena, investing in technology capabilities and preparation for launch of the Gfinity Elite Series in July 2017.

I have a small speculative position here. I am in 2 minds as to whether to ditch them or, against my usual rules, add to the position – These results seem to have missed estimates so I am in favour of the former. The problem is I have this itch that these guys are going to be big as I see no close competitor in what seems is going to be a HUGE “sport”.

28-Mar-2018 – 12.15p – £28.0m – PER 43.1

Results For The 6 Months To End December 2017 – Revenue increased 103% on the same period in the prior year to £1.8m (H1 2017: £0.9m), Loss Before Tax £7.7m (H1 2017: loss of £1.7m) £7m raised in October 2017, Cash and cash equivalents of £3.9m.

There’s another placement underway (announced yesterday). I no longer hold here and have already had a few words with myself regarding my decision to buy this. It’s on my Avoid list until there’s a profit, as it should have been in the first place.

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