IAS delivers strong H2 numbers

With a hostile takeover attempt by Centrebet in progress , the directors of Australian sportsbetting group International All Sports are probably relieved that second half 2008 results have been positive.
The results, released this week, show a strong performance with record EBITDA of AU$5 million and pre-tax profit of AU$3.7 million, a 161 percent and 664 percent increase respectively on the corresponding period in 2007.
Casting something of a cloud on the IAS horizon was the news that subsidiary Canbet’s ex-Australia operations continued to have a negative impact on overall performance, recording a AU$3.7 million EBITDA loss – a sad contrast to an AU$8 million profit achieved at sister company IASBet.

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