PAF doubles social contribution on the back of strong results

Finnish online gambling operator Åland Penningautomatförening (Paf) reported a 26 percent increase in Group operating profit amounting to Euro 24.7 million in its FY2012 financial review.

Revenue (before Gaming tax) reached Euro 117 million, an increase of 11 percent and profits amounted to Euro 26.8 million equating to an increase of 28 percent compared to FY 2011.

The company has proposed that Euro 19 million of its profits be paid to Åland’s provincial government who will distribute the money to good causes. The amount has almost doubled compared to last year’s contribution of Euro 10.5 million. In addition the provincial government also received Euro 10.3 million in gaming taxes from Paf’s business during 2012.

Paf chief executive officer Anders Ingves is proud of Paf’s accomplishments saying: “I am pleased with everything we have achieved individually and through cooperation during the year. There are things that we have learned, things we have developed and changes we have made. Together I think we have completed a good long run during 2012. The organization has been working as a dedicated relay team consisting of the right mix of speedy sprinters and persistent marathoners.”

Paf’s latest results continue the firm’s positive growth momentum and its forward looking strategy contains no big changes revealed Ingves.