Betsson still strong

Swedish online gambling group Betsson has delivered an encouraging Q.1 2009 start to its financial year, showcasing strong revenues, cash and profits.
Highlights of the report include:
* Revenues up by 38 percent to SEK 315.5 (227.8 in 2008) million
* Operating income improved by 45 percent to SEK 82.4 (56.8) million
* Income before tax increased by 44 percent to SEK 83.0 (57.5) million
Income for the period totalled SEK 78.8 (53.6) million, an increase of 47 percent, corresponding to SEK 2.01 (1.36) per share
Management reported that the company’s cash position by the end of the period was SEK 436.8 (275.1) million, with no interest-bearing liabilities burdening the group.
Pontus Lindwall, Betsson’s President and CEO told shareholders: ”All of Betsson´s websites have continued to develop strongly. The healthy customer activity and deposits during the first quarter cement a continued good growth during the year.”

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