Online betting group Unibet plc has released its fourth quarter 2011 financial results, with an emphasis being placed on the company's impressive growth in gross winnings revenue.
Key financial highlights for the fourth quarter were:
Gross winnings revenue was up 26% to £44.7 million.
Profit from operations amounted to £12.1 (9.6) million for the fourth quarter of 2011 and £38.8 (34.2) million for the full year 2011.
Profit before tax for the fourth quarter of 2011 amounted to £11.9 (9.2) million. Profit before tax for the full year 2011 amounted to £38.1 (33.8) million.
Profit after tax for the fourth quarter of 2011 amounted to £11.3 (10.0) million. Profit after tax for the full year 2011 amounted to £35.5 (32.4) million.
Operating cash flow before movements in working capital amounted to £15.0 (11.7) million for the fourth quarter 2011 and £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 £8.1 million.
For the full year, revenues were up 5% to £154.4 million, from £147.5 million last year.
Commenting on his company's performance, Unibet CEO Henrik Tjärnström said:
“We are very satisfied to announce another quarter with strong organic growth."
"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 ."