Unibet reports Q1 results

Online gambling group Unibet plc has reported a promising first quarter for 2009 that includes a 15 percent increase in gross winnings to GBP 36.1 million (Q1 2008: GBP 31.3 million) and a 270 percent increase in pre-tax profit to GBP 10.7 million (Q1 2008: GBP 2.9 million)
Highlights from the report, which will be discussed later today (Monday) by Unibet’s CEO Petter Nylander and CFO Henrik Tjärnström, include:
* Gross winnings revenue GBP 36.1 million for the first quarter of 2009.
* Profit from operations up at GBP 10.9 (Q1 2008: GBP 10.3 million.)
* Profit before tax for the first quarter well up at GBP 10.7 (Q1 2008: GBP 2.9 million.)
* Profit after tax rose to GBP 10.0 (Q1 2008: GBP 2.2 million.)
* Operating cash flow before movements in working capital amounted to GBP 13.5 million (Q1 2008: GBP 13.2 million)
* Number of active customers at the end of the quarter was 314 977, up 8 percent from the same period a year ago.
Petter Nylander, CEO of Unibet, said: “Our strong business model and the well balanced product portfolio have resulted in another strong quarter in terms of gross winnings and operating cash flow.
“During the quarter the number of active customers increased by almost 8 percent and we have continued our successful geographic expansion.
“The experience and structure capital that we have gained in our own sports book gives us a competitive advantage in many areas and are fundamental in the strength of our brand and our customers user experience.”

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