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Probability enjoys 'Lidl effect'

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    Date: Monday 13 Oct 2008

    LONDON (ShareCast) - Aim listed mobile phone gambling outfit Probability said net gaming revenue increased 10% from the previous quarter to £1.37m.

    The increase comes despite the traditional "summer holiday" slowdown in July and August, it said.

    Around 56,297 new customers were added during the quarter as the group benefits from a "Lidl effect" on its business.

    CEO Charles Cohen explained," We believe that we could be enjoying a 'Lidl effect' in our business: if people are feeling the pinch elsewhere, we think the signs are we can benefit from the downturn."

    "Just as consumers are moving from established supermarkets to discounters like Lidl, so they are seeking value when they gamble," he added.

    Cohen said the group is highly confident in future prospects and believes its strategy for growth as a pure-play mobile gambling service is the right one.

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