Unibet reports gross win and profit increases

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Online gambling group Unibet plc has reported a promising first quarter for 2009 that includes a 15% increase in gross winnings to £36.1 million (Q1,2008: £31.3 million) and a 270% increase in pre-tax profit to £10.7 million (Q1,2008: £2.9 million)

Highlights from the report, which will be discussed later today (Monday) by Unibet's CEO Petter Nylander and CFO Henrik Tjärnström, include:

  • Gross winnings revenue £36.1 million for the first quarter of 2009.
  • Profit from operations up at £10.9 (Q1,2008: £10.3 million.)
  • Profit before tax for the first quarter well up at £10.7 (Q1,2008: £2.9 million.)
  • Profit after tax rose to £10.0 (Q1,2008: £2.2 million.)
  • Operating cash flow before movements in working capital amounted to £13.5 million (Q1,2008: £13.2 million)
  • Number of active customers at the end of the quarter was 314,977, up 8% from the same period a year ago.

Petter Nylander, CEO of Unibet, said: "Our strong business model and the well balanced product portfolio have resulted in another strong quarter in terms of gross winnings and operating cash flow.

"During the quarter the number of active customers increased by almost 8% and we have continued our successful geographic expansion.

"The experience and structure capital that we have gained in our own sports book gives us a competitive advantage in many areas and are fundamental in the strength of our brand and our customers user experience."

Source: InfoPowa News