Record Quarter for Sportingbet PLC
Sportingbet has announced a record quarter for the period ending January 31. The online gaming giant’s financial performance was described by Nigel Payne, CEO of Sportingbet, as “a period in which the scale of the Group’s operations has again increased significantly and a period in which the benefits of our shared purse strategy have started to deliver real returns.”
Sportingbet’s pre-tax profit tax leapt to £27 million, almost doubling the £15 million earned last year and new customer acquisitions were up by 62%.
Chairman of Sportingbet, Peter Dicks said, “The benefits of the increased size of our business across our shared purse ‘one-stopshop’ environment have again been demonstrated in this quarter. During the three months ended 31 January 2006 we have recruited more new customers, taken more bets, played more games of poker and made more profit than in any previous quarter in the Group’s history.”
Dicks continued, “Our cash generation in the quarter has also been at record levels, and I am delighted to announce the payment of an interim dividend of 1.0p per ordinary share. I am also pleased to report that we are experiencing solid organic growth at the start of the third quarter and consequently the outlook for the second half of the financial year remains encouraging.”
