Betsson first quarter revenues up 38%

Swedish online gambling group Betsson has delivered an encouraging Q.1 2009 start to its financial year, showcasing strong revenues, cash and profits.

Highlights of the report include:

• Revenues up by 38% to SEK 315.5 (227.8 in 2008) million
• Operating income improved by 45% to SEK 82.4 (56. million
• Income before tax increased by 44% to SEK 83.0 (57.5) million

Income for the period totalled SEK 78.8 (53.6) million, an increase of 47%, corresponding to SEK 2.01 (1.36) per share

Management reported that the company's cash position by the end of the period was SEK 436.8 (275.1) million, with no interest-bearing liabilities burdening the group.

Pontus Lindwall, Betsson's President and CEO told shareholders: "All of Betsson´s websites have continued to develop strongly. The healthy customer activity and deposits during the first quarter cement a continued good growth during the year."

Source: InfoPowa News