WEBIS HOLDINGS PLC
("the Company" or "the Group")
INTERIM RESULTS FOR THE PERIOD ENDED 29 NOVEMBER 2009
Webis Holdings Plc, the global on-line gaming group, today announces its interim results for the period ended 29 November 2009.
Summary:
· | Group turnover decreased by 21% to £56.4m (2008: £71.5m)
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· | European Wagering Services’ turnover increased by 22% to £18.4m (2008: £15.1m)
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· | betinternet.com’s turnover reduced by 33% to £37.9m (2008: £56.4m)
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· | Gross profit decreased by 14% to £1.46m (2008: £1.70m); gross margin increased by 0.21% to 2.59% (2008: 2.38%)
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· | Decrease in EBITDA to £87k (2008: £381k)
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· | Operating loss of £51k (2008: operating profit of £256k)
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Commenting on the results, Denham Eke, Chairman of Webis Holdings Plc, said:
"It has been a difficult start to this financial year, particularly relative to the progress made in the previous year. European Wagering Services has continued its recent good performance, with a 22% increase in turnover for the period, as a result of the successful recruitment of additional players through the link2bet.com website. Casino revenue within betinternet.com’s sportsbook, however, has seen business levels reduce compared with last year, as some of the ‘high-roller’ activity seen previously fell away in the period. Despite the challenging and competitive trading environment for both businesses, we continue to seek ways of further enhancing our customers’ experience, in particular through the harnessing of appropriate technologies to our product offering. The Board’s overall view of the Group’s prospects remains positive."
ENDS