see all jobs
sportingbet reports increase in quarterly profits
sportingbet, the UK-based online gambling company, has reported a 21.2 per cent increase in operating profit for the three months ending 31 October 2009, compared with the same period last year.
The company saw group operating profit increase from £5.2m to £6.3m during the period, while it also reported that amount of money wagered by customers went up by 27.9 per cent. However, sportingbet admitted that its quarterly profits had been affected by a disappointing series of horse racing results in Australia but remains confident it will continue to perform well based on early trading in the second quarter.
Andrew McIver, sportingbet group chief executive, said: "The Australian business continues to benefit from deregulation with the internet business driving amounts wagered up strongly. As previously reported, the business suffered from poor horse racing margins through August and September which have since recovered to more normal levels.
P> "Trading since the start of the second quarter has remained robust with the additional benefit of Australian margins returning to more normal levels. The group performance to date gives the Board confidence with regard to the remainder of the financial year."More News
- News by sector (all)
- All news
- Fitness
- Personal trainer
- Sport
- Spa
- Swimming
- Hospitality
- Entertainment & Gaming
- Commercial Leisure
- Property
- Architecture
- Design
- Tourism
- Travel
- Attractions
- Theme & Water Parks
- Arts & Culture
- Heritage & Museums
- Parks & Countryside
- Sales & Marketing
- Public Sector
- Training
- People
- Executive
- Apprenticeships
- Suppliers