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Gala Coral Fiscal Reports Show Higher Profits

UK betting giant the Gala Coral Group has released its year end fiscal numbers, noting increased revenues due to a great performance by the company's online division.

Key financial indicators for the year sending September 30th, 2012 were:

  • Turnover during the period rose 6% year-on-year to reach £1.189 billion

  • EBITDA for the year was up 11% to £291.4 million; after deducting bonuses it was still 7% better than 2011 at £280.2 million.

  • Statutory gross profit for the year reached £923.6 million, up 8% on the preceding year.

  • Interactive turnover increased 3% to £72.5 million.

Commenting on the results, Gala Coral CEO Carl Leaver said: “We have restructured into key operating divisions, bedded in a new operational management team and invested in our retail estate and online systems. This has resulted in the first growth in profitability for over five years against the backdrop of a difficult environment for retail and leisure businesses."

“In the final quarter of the year, the Group delivered another solid performance with EBITDA growth of nine percent post-bonus and excluding week 53 despite trading losses in Italy in the final period due to extremely poor sports results."

“July saw the launch of our new GalaBingo.com website and early growth from both this and the new GalaCasino.com website has been positive. With the re-launch of Coral.co.uk in October, our new interactive businesses are now fully up and running and we are targeting significant growth over the forthcoming year.”

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