Internet betting firm Gala Coral has released its third quarter 2014 financial results, noting a surge in gross profit up 10%.
Key financial indicators for the quarter ending July 5th, 2014 were:
Total group EBITDA of GBP 67.2 million (Q3/2013: GBP 56.9 million), up 18 percent.
An increase of 15 percent in continuing operations turnover to GBP 292.7million (Q3/2013: GBP 254.9 million).
Gross Profit from continuing operations amounted to GBP 208.3 million, up 10 percent.
Total group EBITDA of GBP 205.5 million (9M/2013: GBP 193.8 million), up 6 percent.
Turnover continuing operations of GBP 951 million (9M/2013: GBP 853.1 million), up 11 percent
While Gala Coral's retail business suffered, its online division posted strong results delivering total EBITDA of GBP 43.7 million (9M/2013: GBP 20.6 million)
Commenting on his company's performance Gala Coral Group CEO Carl Leaver said, “The group delivered another strong performance with EBITDA ahead in all divisions and 20% overall. Growth in the online business continues to be very encouraging, in particular in Coral.co.uk, where customer acquisition offers, together with ‘Coral Connect’ sign ups, helped drive actives 94% ahead of last year."