PRELIMINARY RESULTS FOR THE YEAR ENDED 27 MAY 2007

betinternet.com plc, the global on-line gaming group, today announces preliminary results for the year ended 27 May 2007.

Highlights are:

  • EBITDA profit for the year of £162k (2006: loss of £1,055k)
  • Gross profit increased by 30% to £3.0m (2006: £2.3m)
  • Group turnover increased to £87.1m (2006: £67.6m)
  • Sportsbook turnover rose to £62.4m (2006: £57.5m)
  • Pari-mutuel turnover grew by 148% to £24.8m (2006: £10.0m)
  • Administration expenses reduced by 14.5% on a ‘like for like’ basis
  • Group operating loss reduced to £0.076m (2006: £1.821m)

Commenting on the results, Denham Eke, Chairman of betinternet.com, said: “Anyone involved in the gaming sector, whether as a shareholder or an employee, could not have anticipated the changes that have taken place over the course of the last year.  It has been a difficult time for the sector, but the Company’s executive management team has steered a course through these challenges to bring the business to profitability at EBITDA level and create a stronger operation for the future”.

Notes to editors:

The following are attached:

  • Chairman’s Statement
  • Operational Review
  • Consolidated Profit & Loss
  • Consolidated Balance Sheets
  • Consolidated Cash Flow Statements
  • Notes to the Accounts

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