Webis cuts losses in a solid half-year

Webis Holdings, a UK sportsbetting and online casino group which reported a loss of GBP 100,000 this time a year ago, has managed an impressive turnaround for the half-year, posting a profit of GBP 100,000 on turnover up 11 percent y-o-y in the six months to end November 2013.

The company’s trading update this week recorded:

* Sales up GBP 7.8 million to GBP 79.2 million;

* Net trading income up 34 percent to GBP 2.6 million;

* Profit of GBP 100,000;

* Increase in the value of net assets up 68 percent to GBP 3.2 million.

Webis group companies include the BetInternet online and mobile sportsbetting operation, and the US-based WatchandWager advanced deposit wagering enterprise, which operates a totalisator wagering hub through its United States Tote supplier.

Company chairman Denham Eke said that overall growth had been maintained over the half-year, and that the board remained optimistic regarding the group’s future.

Related and similar