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Entraction reports 122% half year profit increase

Online gambling group Entraction has released an impressive set of half year 2009 numbers, showcasing operating profit that has soared 122% to SEK 27.3 million, and EBITBA up an impressive 81% to SEK 33.8 million.

The H1 statistics show a 45% increase in net sales to SEK 227.8 million, although observers pointed to a slower second quarter where net sales 'only' rose 37% over Q2,2008.

The company reported continuing success in diversifying into non-Nordic markets - mainly Italy and Spain - with Nordic contributions shrinking from 65% to 55%.

"We continue to show a highly positive cash flow, which gives us freedom of action and security in a changeable world," remarked CEO Peter Åström, who added that Entraction will launch online bingo with at least five licensees during the northern hemisphere autumn, which will develop higher volumes.

Entraction also plans to launch a new live betting product in partnership with Evolution Gaming in Q1,2010.

Source: InfoPowa News

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