INTERIM RESULTS FOR THE 26 WEEKS ENDED 25 NOVEMBER 2007
Webis Holdings Plc, the global on-line gaming group, today announces its interim results for the 26 weeks ended 25 November 2007.
Highlights of the results are:
- Group turnover has increased by 22% to £53.0m (2006: £43.5m)
- European Wagering Services (EWS) pari-mutuel business has continued to grow with turnover increasing by 19%
- EBITDA profit of £43k (2006: £182k)
- Sportsbook turnover has increased by 23% to £39.0m (2006: £31.7m)Group overheads have reduced by 3.9% to £1.23m (2006: £1.28m)
Commenting on the results, Denham Eke, Chairman of Webis Holdings Plc, said:
"The results show that the Company recorded a profit at EBITDA level for the period. Activity levels increased within our casinos and fixed-odds games, especially the live dealer casino, and the sportsbook has increased its product offering during the period with the introduction of UK horse racing. I am pleased to report that EWS has resolved its banking issue and this has enabled the operation to return to previous levels of gross margin. Going forward, the board will continue to ensure that both EWS and the sportsbook business are appropriately positioned to capitalise on the opportunities available in the marketplace for sustainable growth."