Unibet turn in strong quarter 4 performance
News on 16 Feb 2012
News on 16 Feb 2012
The European internet gambling group Unibet plc has posted a strong Q4-2011 performance, with gross winnings revenue revenue up by 26 percent to GBP 44.7 million, continuing Unibet’s recovery from a weak H1-2011 and lifting revenues for the full year 5 percent to GBP 154.4 million (FY-2010 GBP147.5 million).
Other highlights included:
· Profit from operations amounted to GBP 12.1 (9.6) million for the fourth quarter of 2011 and GBP 38.8 (34.2) million for the full year 2011.
· Profit before tax for the fourth quarter of 2011 amounted to GBP 11.9 (9.2) million. Profit before tax for the full year 2011 amounted to GBP 38.1 (33.8) million.
· Profit after tax for the fourth quarter of 2011 amounted to GBP 11.3 (10.0) million. Profit after tax for the full year 2011 amounted to GBP 35.5 (32.4) million.
· Operating cash flow before movements in working capital amounted to GBP 15.0 (11.7) million for the fourth quarter 2011 and GBP 48.5 (44.5) million for the full year 2011.
· Number of active players at the end of the quarter was 400,697 (308,872).
· The group successfully completed the acquisition of Solfive for a total cash consideration of GBP 8.1 million .
“We are very satisfied to announce another quarter with strong organic growth,” said chief executive Henrik Tjärnström.
“Our focus on core markets continues to deliver excellent results with all time high revenues for the Nordic region and this growth has been achieved across both the Unibet and Maria brands. The sustained positive development we have seen in the products offered under the Maria brand continued strongly in this quarter, so that Maria delivered an all time high for both the quarter and the full year.
“During the first six weeks of 2012 we have seen continued good growth both in terms of revenue and customer registration. We also see encouraging growth in customer intake in Denmark.”
Tjärnström said that pursuant to Unibet’s acquisition strategy, the company had made two strategic investments to broaden the geographical and product range, one in France (Solfive) and one in Australia (BetChoice).
“This combined with our developments towards local licences such as our new Danish licence, is rapidly transforming Unibet into a leading regulated market player,” he claimed.
