Aussie online gambling group expects high profits

In a guidance statement outlining prospects for its financial year ending June 30 2015, the management of Aussie online sportsbetting company Ebet Limited this week projected a rise in net profit before tax (NPBT) of between 52 and 60 percent.

The company’s CEO, Ken Carr, said that before tax profits are likely to be in the range A$5.5 million to A$5.8 million – a significant improvement on the comparative period in fiscal 2014 when NPBT reached A$3.6 million.

“Our growth momentum is underpinned by the strength of the business model, high and growing level of recurring revenue and an attractive pipeline of opportunities. Recurring revenues now constitute approximately 52 percent of total revenue,” Carr reported.

He said that following the A$4.8 million acquisition of gaming systems company Flexi-NET in July 2014, the company has started its product migration program.

Ebet expects to announce results for the 2015 financial year on or around August 27.