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Betfred Sees Profits Skyrocket

UK based betting firm Betfred has announced its latest financial results, noting that profits and gross revenues jumped by significant margins.

Key financial indicators for the year ending March 31st, 2013 were:

  • Group Profit surge of almost £70 million

  • Group Revenues of £8 billion, up 19% or £1.3 billion compared to the previous year

  • Group Pre-Tax Profit of £69 million, up 30% on £53 million the previous year

  • Reduction in debt by £43 million to £213 million

  • Tax contribution up 24% to £89.6 million

Additionally, the firm announced that it now employs more than 10,000 people, as the group hired 400 employees. That number will continue to rise, as Betfred is expecting to open 30 additional retail stores, which will create 150 extra jobs.

Commenting on his company's performance Betfred Co-Founder Fred Done said, “We are very excited about the future and are positive about the outlook for the business."

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