AsianLogic Revenues Jump Nearly 100 Percent - 04-13-08

April 13 - AsianLogic Limited reported on Friday that its full year profits for 2007 jumped to $54.31-million, an increase of 95%. The company's net profits rose by 86%, to stand at $7.85-million. AsianLogic's success has carried through to 2008, with first quarter net profit results standing at $4-million.

The company's executive vice chairman, Tom Hall said: "I am pleased to report a strong set of preliminary results for 2007. We have continued that progress in to Q1 2008 and have made an excellent start to the year with the underlying business growing fast and with progress across all divisions. The directors are confident of achieving further growth in revenues and profitability in the current financial year."

AsianLogic reported that in January 2007, it was bringing in $92,246 a day in gaming revenues. These figures jumped 56% to $145,249 by December 2007. Most of the company's revenues (91%) came from the Asian market.

AsianLogic is already looking to expansion this coming year. Two lucrative agreements involve further penetration into the Asian market, one by acquiring a major e-gaming operator, and the other by acquiring a strategic stake in an established company. A third agreement involves acquiring a 25% stake in a leading European company.

Tom Hall said: "These acquisitions are further evidence of our strategy to grow our customer reach and appeal and reflects the strength of AsianLogic's market leading presence in the Asia-Pacific region. The acquisitions will provide additional opportunities to expand penetration of the AsianLogic brand and products into Asia, one of the fastest growing markets for online and server based gaming."

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