INTERIM RESULTS FOR THE PERIOD ENDED 30 NOVEMBER 2012
Webis Holdings plc, the global on-line gaming group, today announces its interim results for the period ended 30 November 2012.
- Turnover of £71.4 million (2011: £53.5 million), an increase of 33%
- Successful start of harness racing at Cal Expo, California, USA
- Net trading income of £1.94 million (2011: £1.36 million), an increase of 43%
- Profit from operating activities of £0.29 million (2011: loss of £0.14 million)
- Cash (before post period funding) stands at £2.86 million (2011: £2.20 million), an increase of 30%
- £1.37 million loan notes converted into new equity
- Comprehensive loss for the period of £0.075 million (2011: loss of £0.14 million)
Commenting on the results, Denham Eke, Chairman of Webis Holdings plc, said:
“I am pleased to report that the first six months of trading have been both a period of solid growth and exciting opportunity. In November, the Group’s pari-mutuel platform European Wagering Services Limited commenced the exclusive operation of harness racing at the Cal Expo racetrack in Sacramento, California, home to the only live harness racing on the West Coast of the USA. Following a short period of initial investment, the early signs of wagering activity have been extremely encouraging. Without doubt, this is a major new initiative for the Group and I expect the results to reflect this in the years to come. The turnover of the Webis sportsbook, casino and games operations, betinternet.com, also increased substantially during the period.
Overall, we believe that we are firmly securing the foundations for the future success of the betinternet and EWS operations and we anticipate that the positive momentum built up within both businesses will be carried through into the second half of the current financial year and beyond.”