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Betfred Reveals Strong Financials

UK based sportsbook Betfred has revealed its latest financial results, noting strong results in profit and turnover.

The Daily Mail UK newspaper is reporting that Betfred had turnover of £4.8 billion, which is up from £4.1 billion last year.

Other financial highlights were:

  • Gross profits at £194 million, up from £181 million last year.

  • Pre-tax profits of £16.3 million, up from £15.5 million in the last reporting period.

Management is reportedly happy with the results, but notes that the company will face challenges with its labor staff, as the firm is currently negotiating with Community Union, who represents state-owned Tote. Betfred overtook the operations of Tote last year and will work to settle any upcoming labor contracts.

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