Interim Results for Period Ended 27 Nov 201102 February 2012
Webis Holdings plc, the global on-line gaming group, today announces its interim results for the period ended 27 November 2011.
- Loss for the period of £138,000 (2010: profit of £162,000)
- Group turnover of £53.5 million (2010: £55.6 million)
- betinternet sportsbook turnover of £39.0 million (2010: £36.2 million)
- European Wagering Services' turnover of £14.5 million (2010: £19.5 million)
- Gross profit of £1.36 million (2010: £1.62 million); gross margin of 2.54% (2010: 2.92%)
- EBITDA loss of £(17,000) (2010: £301,000 profit)
Commenting on the results, Denham Eke, Chairman of Webis Holdings plc, said:
"betinternet.com has seen sustained turnover growth in its fixed-odds betting business, particularly in the Asia Pacific region, both throughout this period and into the start of the new football season. Activity levels in betinternet's casino and games offerings decreased due to a fall in high-roller activity, which continues to be affected by the global economic climate. We are now taking action with a view to stimulating an increase in activity levels during the second half of the year.
European Wagering Services resolved its payment issues in the early part of the year with the introduction of a new secure solution and we are looking to provide further back up in the second half. These developments, coupled with small increases in United States domestic and international content and renewed promotion to our database of current and past customers, have produced an improved performance during the latter part of the period."
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