REG - Catalyst Media Group - Interim Results
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RNS Number : 7069Y Catalyst Media Group PLC 31 March 2026
31 March 2026
Catalyst Media Group Plc
("CMG", "Catalyst" or the "Company")
Interim Results for the Six Months Ended 31 December 2025
The Board of CMG (AIM: CMX) is pleased to announce the Company's unaudited
interim results for the six months ended 31 December 2025.
CMG is a 20.54% shareholder in Sports Information Services (Holdings) Limited
("SIS") and the results include its share in the profits/(losses) of SIS as an
equity accounted associate.
Financial Highlights:
· CMG loss after taxation of £0.15 million (2024: loss of
£0.41 million)
· Loss per share of 0.73p (2024: loss per share of 1.94p)
· Net asset value per share of 147.2p (2024: 147.3p) at the end
of the reporting period
· For the six months to 30 September 2025, SIS achieved
- Revenues of £104.9 million (2024: £100.0 million)
- Operating loss of £0. 6 million (2024: loss of £2.2 million)
- Loss after tax on ordinary activities of £0.5 million (2024: loss of
£1.8 million)
· On 9 September 2025, the Company purchased 180,102 ordinary
shares of 10p each in the capital of CMG via the market at a price of 50p per
ordinary share for a total consideration of £90,051. Such buy-back shares are
being held in treasury.
· On 31 October 2025, the Company received its approximate
£0.35 million share of a dividend paid by SIS.
SIS's Current Trading and Outlook
SIS's racing business, both for retail and online, has remained robust in the
period although market conditions for racing remain challenging. SIS's
non-racing business (eSports and Numbers) has seen significant growth in the
period from both an increase in customers and in the volume of events, as well
as revenue growth from existing customers.
Over the last year, the Numbers business launched two additional 49's Branded
numbers draws for a customer and in January 2026 these two draws were combined
into a full service for all customers in the UK and Africa. These new draws
make up part of the four daily draws (Brunchtime, Lunchtime, Drivetime and
Teatime). In February 2026, SIS Launched its third esports title (eAmerican
Football) which is live with its top three esports customers and has started
well although still early in its lifecycle.
SIS has previously advised CMG that following the growth in its content
creation business SIS would see growth in its overall like-for-like operating
profit, before investment in new titles, in its financial year to 31 March
2026 however whilst performance in the first three quarters has been strong,
the final Quarter has experienced headwinds on both margin and rights which is
likely to impact the full year outturn.
Enquiries:
Catalyst Media Group Plc
Michael Rosenberg, Non-executive Chairman Mob: 07785 727 595
Melvin Lawson, Non-executive Director Tel:
020 7734 8111
Strand Hanson
Limited
Tel: 020 7409 3494
James Harris / Matthew Chandler
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.
Chairman's Statement
For the six-month period ended 31 December 2025, the Company recorded a net
loss after taxation of £0.15 million (2024: loss of £0.41 million).
Net assets as at 31 December 2025 were £30.7 million (30 June 2025: £31.0
million). Net cash as at 31 December 2025 was approximately £0.4 million (30
June 2025: £0.2 million).
CMG's main asset remains its 20.54% stake in SIS and, in October 2025, the
Company received its approximate £0.35 million share of a dividend from SIS.
The value of CMG's investment in SIS has reduced from approximately £30.7
million as at 30 June 2025 to approximately £30.2 million as at 31 December
2025, reflecting the impact of such dividend receipt and CMG's share of the
losses recorded by SIS in the six months to 30 September 2025. As a result,
CMG's net assets per share as at 31 December 2025 were 147.2p (2024: 147.3p).
The carrying value of our investment in SIS will be reviewed again at our
financial year end.
CMG equity accounts for its share in the loss of SIS which was £0.45 million
after tax for its six-month period to 30 September 2025 (2024: loss of £1.8
million). SIS's revenues for such period were £104.9 million (2024: £100.0
million) which were derived from its business of providing integrated
television and data services to Licensed Betting Offices in the UK, Ireland
and overseas. SIS generated an operating loss for this period of £0.56
million, compared to an operating loss of £2.2 million in the comparable
period for 2024.
On 9 September 2025, the Company purchased, in the market, 180,102 ordinary
shares of 10p each in the capital of CMG at a price of 50p per ordinary share
for a total consideration of £90,051, utilising, and within the set
parameters of, the Company's pre-existing authority to make such market
purchases as granted at the Company's annual general meeting held on 17
January 2025. The purchased shares are being held in treasury.
CMG currently has sufficient working capital for its current needs as the
group's overheads are expected to continue at a consistently low level.
SIS provides essential 24/7 betting content and services to retail and online
operations worldwide through two complementary divisions, Racing Content and
Services and Content Creation, each playing an important role in its business
model.
Set out below is an overview of the activities of SIS's key divisions for the
period under review.
SIS Racing Content & Services
SIS is a leading distributor of live horse and greyhound racing content,
providing pictures, commentary, data, and pricing to operators globally.
The SIS rights portfolio comprises more than 60,000 events from 15 countries,
including the UK, Ireland and key international horseracing markets such as
Australia, Europe and the Americas.
The strategic focus for this division is to grow racing rights through
long-term agreements, expand its international reach, and enhance data,
production and distribution capabilities to maintain SIS's position as a
trusted source for racing content and associated services.
SIS supplies its retail services, production, distribution and content, to the
major retail brands in the UK on recently renewed long term agreements and
supplies an independent bookmaker service to smaller brands and individual
bookmakers in the UK and Ireland. SIS also supplies the major UK online
operators with horseracing and greyhound racing events and channels optimised
for online viewing. The UK market for racing content remains a challenge with
betting turnover on such content showing a continued year on year downward
trend per the Gambling Commission Industry Statistics annual report which
impacts SIS's revenues on content although production and distribution
revenues are mainly unaffected.
SIS continues to expand its customer base geographically with over 150 live
feeds to customers designed to maximise betting opportunities for
international retail and online operators through multi-year agreements.
SIS Content Creation
The business has diversified in recent years from traditional racing products
and services to investing in short-form, high-frequency betting content. This
includes esports through SIS Competitive Gaming products, and live fixed-odds
numbers draws such as 49's, Fast 15s and 39's, via SIS Numbers products. These
products are produced by SIS in-house, with a strong focus on ensuring
integrity and reliability.
Competitive Gaming (under the H2H Esports brand) delivers 250,000 unique live
events annually and carries ESIC Gold Standard accreditation. The focus to
date has been on two sports; eBasketball and eSoccer, however in February 2026
the business launched a third esport; eAmerican Football.
The events are distributed in territories worldwide and its last year has seen
significant expansion, particularly in North America with the number of
licensed jurisdictions increasing to 19 with further applications in progress.
SIS is seeing significant growth in revenues year on year and expects this to
continue as additional customers and sports titles are launched under the H2H
Esports Competitive Gaming brand.
The 49's branded numbers business has a range of products from its original
draw (twice daily) to over 500,000 draws per annum from its stable of branded
products, 49's, Fast 15's, 39's and the 49's virtual racing product plus a
bespoke draw product, Lotto365, for bet365.
In total the two divisions, SIS Racing Content & Services and SIS Content
Creation, deliver over 750,000 betting events annually to more than 400
operator clients in over 50 countries, supported by multi-channel distribution
across retail, online, and mobile platforms.
SIS - India
An arbitration award was made in SIS Live's favour in July 2020 with the award
paid into court. The award is now subject to appeals in the Delhi High Court
by both parties: SIS continues to pursue claims disallowed by the arbitrators
whilst the respondent attempts to nullify the award in its entirety. The
overall outcome therefore remains uncertain.
The legal and associated costs relating to this claim are still impacting
SIS's profits.
SIS - Current Trading and Outlook
SIS's racing business, both for retail and online, has remained robust in the
period although market conditions for racing continue to be challenging. SIS's
non-racing business (eSports and Numbers) has seen significant growth in the
period from both an increase in customers and in the volume of events, as well
as revenue growth from existing customers.
Over the last year, the Numbers business launched two additional 49's Branded
numbers draws for a customer and in January 2026 these two draws were combined
into a full service for all customers in the UK and Africa. These new draws
make up part of the four daily draws (Brunchtime, Lunchtime, Drivetime and
Teatime). In February 2026, SIS Launched its third esports title (eAmerican
Football) which is live with its top three esports customers and has started
well although still early in its lifecycle.
CMG's Outlook
The Board of CMG notes that SIS has previously advised that following the
growth in its content creation business SIS would see growth in its overall
like-for-like operating profit, before investment in new titles, in its
financial year to 31 March 2026 however whilst performance in the first three
quarters has been strong, the final Quarter has experienced headwinds on both
margin and rights which is likely to impact the full year outturn. Meanwhile,
overheads for the group continue to remain at a very low level as in previous
years.
Michael Rosenberg OBE
Chairman
31 March 2026
Consolidated interim statement of comprehensive income
Notes 6 months to 31 December 2025 6 months to 31 December 2024 12 months to 30 June 2025
£ £ £
Unaudited Unaudited Audited
Revenue 1,249 12,500 25,000
Cost of sales - - -
Gross profit 1,249 12,500 25,000
Administrative expenses (81,576) (67,810) (148,960)
3,005
Other operating - -
income
Operating loss (80,327) (55,310) (120,955)
Financial income 1,138 5,474 7,652
Financial costs (292) (262) (292)
Net financial income 846 5,212 7,360
Share of (loss)/profit of equity-accounted associate 3 (92,429) (370,131) 472,215
(Loss)/profit before taxation (171,910) (420,229) 358,620
Taxation 19,400 12,200 28,500
(Loss)/profit for the period (152,510) (408,029) 387,120
Share of other comprehensive loss of associate - - (822)
Total comprehensive (loss)/income for the period (152,510) (408,029) 386,298
Attributable to equity holders of the Company (152,510) (408,029) 386,298
Earnings per share: 4
Basic (0.73p) (1.94p) 1.84p
Diluted (0.73p) (1.94p) 1.84p
Consolidated interim statement of financial position
Notes 31 December 31 December 30 June
2025 2024 2025
£ £ £
Unaudited Unaudited Audited
Assets
Non-current assets
Investment in associate 3 30,224,477 29,828,893 30,670,417
30,224,477 29,828,893 30,670,417
Current assets
Trade and other receivables 106,301 84,405 115,522
Cash and cash equivalents 418,700 1,106,696 206,650
525,001 1,191,101 322,172
Total assets 30,749,478 31,019,994 30,992,589
Equity and liabilities
Capital and reserves attributable to equity holders of the parent
Share capital 2,085,192 2,103,202 2,103,202
Capital redemption reserve 729,127 711,117 711,117
Merger reserve 2,402,674 2,402,674 2,402,674
Retained profits 25,480,001 25,769,966 25,723,012
30,696,994 30,986,959 30,940,005
Current liabilities
Trade and other payables 52,484 33,035 52,584
52,484 33,035 52,584
Total equity and liabilities 30,749,478 31,019,994 30,992,589
Consolidated interim cash flow statement
6 months 6 months 12 months
to 31 December 2025 to 31 December 2024 to 30
June
£ £ 2025
Unaudited Unaudited
£
Audited
Cash flow from operating activities
(Loss)/profit before taxation (171,910) (420,229) 358,620
Adjustments for:
Share of loss/(profit) from associate 92,429 370,131 (472,215)
Finance income (1,138) (5,474) (7,652)
Finance cost 292 262 292
Corporation taxes recovered 9,278 36,549 36,549
Net cash outflow from operating activities before changes in working capital (71,049) (18,761) (84,406)
Decrease / (Increase) in trade and other receivables 19,343 (13,550) (28,368)
(Decrease) in trade and other payables (100) (23,672) (4,122)
Net cash outflow used in operating activities (51,806) (55,983) (116,896)
Investing activities
Dividend received 353,511 632,275 632,275
Interest received 1,138 5,474 7,652
Net cash inflow from investing activities 354,649 637,749 639,927
Financing activities
Own shares purchased into treasury (90,501) - -
Dividends paid - - (841,281)
Interest paid (292) (262) (292)
Net cash outflow used in financing activities (90,793) (262) (841,573)
Net movement in cash and cash equivalents in the period 212,050 581,504 (318,542)
Cash and cash equivalents at the beginning of the period 206,650 525,192 525,192
Cash and cash equivalents at the end of the period 418,700 1,106,696 206,650
Consolidated interim statement of changes in equity
Share Capital redemption reserve Merger Retained Total shareholders equity
capital £ reserve surplus/ £
Unaudited (deficit) Unaudited
£ £ £
Unaudited Unaudited Unaudited
At 1 July 2024 2,103,202 711,117 2,402,674 26,177,995 31,394,988
Loss for the 6 month period to 31 December 2024 - - - (408,029) (408,029)
Total comprehensive loss for the period - - - (408,029) (408,029)
At 31 December 2024 2,103,202 711,117 2,402,674 25,769,966 30,986,959
Profit for the 6 month period to 30 June 2025 - - - 795,149 795,149
Share of other comprehensive loss of associate - - - (822) (822)
Total comprehensive profit for the period - - - 794,327 794,327
Dividend paid to the Company's shareholders (841,281) (841,281)
At 30 June 2025 2,103,202 711,117 2,402,674 25,723,012 30,940,005
Share Capital redemption reserve Merger Retained Total
capital £ reserve surplus/ shareholders
Unaudited (deficit) equity
£ £ £ £
Unaudited Unaudited Unaudited Unaudited
At 1 July 2025 2,103,202 711,117 2,402,674 25,723,012 30,940,005
Loss for the 6 month period to 31 December 2025 - - - (152,510) (152,510)
Total comprehensive loss for the period - - - (152,510) (152,510)
Own shares purchased into treasury (18,010) 18,010 (90,501) (90,501)
At 31 December 2025 2,085,192 729,127 2,402,674 25,480,001 30,696,994
Notes to the interim financial statements
1. Corporate information
CMG is a company incorporated in England and Wales and is quoted on the AIM
market operated by London Stock Exchange plc.
2. Basis of preparation
These unaudited consolidated interim financial statements cover the six month
period from 1 July 2025 to 31 December 2025 including the financial results of
Sports Information Services (Holdings) Limited ("SIS") for its six month
period to 30 September 2025.
These consolidated interim financial statements of the Company and its
subsidiaries (the "Group") for the six months ended 31 December 2025 have been
prepared in accordance with UK-adopted international accounting standards and
in accordance with the provisions of the Companies Act 2006.
The accounting policies adopted for the preparation of these unaudited interim
financial statements are consistent with the accounting policies adopted in
the Group's financial statements for the year ended 30 June 2025 and will
remain so for the year ending 30 June 2026.
The financial information set out above does not constitute statutory accounts
as defined in section 434 of the Companies Act 2006. Statutory accounts for
the year ended 30 June 2025, on which the report of the auditors was
unqualified and did not contain a statement under section 498 of the Companies
Act 2006, have been filed with the Registrar of Companies.
New financial reporting requirements
The Group, including SIS, has applied the following new financial reporting
standards for the first time in preparing its financial statements for the six
month period ended 31 December 2024:
§ Lack of Exchangeability (Amendments to IAS 21) (effective as of 1 January
2025)
Standards, interpretations and amendments to published standards not yet
effective
At the date of authorisation of these consolidated interim financial
statements, the IASB and IFRIC have issued the following standards and
interpretations which are effective for annual accounting periods beginning on
or after the stated effective date. These standards are not effective for,
and have not been applied in, the preparation of these consolidated interim
financial statements:
§ General Requirements for Disclosure of Sustainability-related Financial
Information and Climate-related Disclosures (Amendments to IFRS S1 and S2)
(revised effective date for UK application as of 1 January 2026)
§ Classification and Measurement of Financial Instruments (Amendment to IFRS
9 and IFRS 7) (effective as of 1 January 2026)
§ Annual Improvements to IFRS Accounting Standards - Volume 11 (effective as
of 1 January 2026)
§ Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9
and IFRS 7) (effective as of 1 January 2026)
§ Presentation and Disclosure in Financial Statements (IFRS 18) (effective as
of 1 January 2027)
§ Subsidiaries without Public Accountability (IFRS 19) (effective as of 1
January 2027)
The Directors anticipate that the adoption of these standards will not have a
material impact on the Group's financial statements in the period of initial
adoption.
3. Investment in associate
Total
Group
£
Cost
At 1 July 2025 30,670,417
Additions - share of loss (92,429)
Dividends received (353,511)
At 31 December 2025 30,224,477
The Group's interest in its associate, SIS, a company incorporated in England
and Wales, is held by Alternateport Limited ("Alternateport"). Alternateport
holds an investment of 20.54% in the equity share capital of SIS and is
entitled to appoint one director to the SIS board. The Group currently has no
representative on the board of SIS. Alternateport is a wholly-owned subsidiary
of Catalyst Media Holdings Limited, a wholly-owned subsidiary of the Company.
The Board has reviewed its valuation of the Company's investment in SIS as at
31 December 2025 and has, in line with the Group's accounting policies,
decreased the value of its investment by the amount of its share of losses for
the period, less the value of the dividend received. As a result, the
investment is now carried at a value of approximately £30.2m.
Share of profit of associate* 30 September 31 December 2025 31 December 2024 30 June
2025 2025
SIS Total CMG share CMG share CMG share
£'000 £'000 £'000 £'000
Revenue:
SIS Betting Services 104,903 21,547 20,545 39,133
Total revenue 104,903 21,547 20,545 39,133
Operating (loss)/profit from ongoing operations (560) (115) (450) 646
Group's share of loss in associate - - - -
Net interest (payable) (132) (27) (22) (29)
Individually significant items - - - -
Profit/(loss) before tax (692) (142) (472) 617
Taxation 242 50 102 (145)
Share of income/(loss) after taxation (450) (92) (370) 472
Net income from associate (450) (92) (370) 472
Other comprehensive income
Actuarial gain/(loss) - - - (1)
Deferred tax - - - -
Acquisition of a subsidiary and revaluation loss - - -
Total other comprehensive income - - - (1)
Share of gross assets and liabilities of associate
Gross assets 65,450 13,443 14,636 14,610
Gross liabilities (37,174) (7,636) (8,905) (8,710)
Net equity 28,276 5,807 5,731 5,900
* - The period covered by the associate's accounts is for the six months to 30
September 2024. The revenues have been stated excluding internal revenues.
4. Earnings/(losses) per share
The calculation of the basic earnings/(losses) per ordinary share of 10p each
in the capital of the Company ("Share") is based upon the following:
6 months to 6 months to 12 months to 30 June
31 December 2025 31 December 2024 2025
£ £ £
Basic and Diluted
Earnings/(losses) per share - pence (0.73p) (1.94p) 1.84p
Profit/(loss) attributable to equity shareholders (152,510) (408,029) 387,120
Weighted average number of Shares in issue 20,921,048 21,032,030 21,032,030
- ENDS -
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