Evoke PLC on Friday said its expectations for the second half of 2024 remain unchanged following its third quarter, as it celebrates its first quarter of revenue growth since 2022.

The Gibraltar-based betting and gaming operator, formerly known as 888 Holdings and owner of William Hill, 888 and Mr Green brands, said revenue for the three-month period ended September 30 was £417 million, 3.0% higher than £405 million last year.

Revenue growth was supported by ‘market share gains in key international markets’, despite being partially offset by ‘particularly customer-friendly sports results’ in September that reduced revenue by around £17 million.

Online revenue increased by 8%, with an 11% growth in the core markets that now represent nearly 85% of the group’s online revenue when including Romania. UK & Ireland revenue rose 3%, as a 12% rise in gaming revenue being offset by weaker performance in betting revenue, which fell 13%. International revenue grew by 14%.

Evoke made no change to its previously issued guidance for 2024 second-half revenue growth of between 5% and 9%. It expects its adjusted earnings before interest, tax, depreciation and amortisation margin to improve to around 21%. The company expects an adjusted Ebitda margin of at least 20% in 2025.

Chief Executive Officer Per Widerstrom said: ‘I have now been in position for a year, and I am pleased that the turnaround of the business is working, with the first quarter of revenue growth since the first quarter of 2022 and positive underlying trends. We are achieving our plans to improve trading in the short-term, while simultaneously radically transforming the group’s capabilities for the long-term.

‘Our online business is a clear growth engine for the group and we saw a return to double-digit online revenue growth in our core markets in the third quarter of 2024, underpinned by our focused market strategy and supported by important product investments and the results of our clearer customer value proposition and segmentation.

‘I am pleased to report a strong quarter of progress as we continue to implement our strategy for success and deliver our value creation plan. We are moving decisively and at pact to position evoke for long-term growth.’

Shares in Evoke were up 3.5% at 59.32 pence each in London on Friday morning.

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