Internet betting group Unibet has posted their first quarter 2016 financial results, noting an all-time revenue high of £122.4 million, with profits also on the rise.
Key financial indicators for the first quarter ending March 31st, 2016 were:
- Revenues of £122.4 million, up 61% from the same period last year.
- Pre-tax profits of £22.5 million, with post-tax profits of £20 million, up 100% from last year.
- Earnings per share up to £0.087, up from £0.044
- Active customers up to 1,006,365 from 612,269 last year.
Commenting on his company's performance Unibet CEO Henrik Tjärnström said, "Unibet's growth continued to develop strongly in the first quarter, with an increase of gross winnings revenue in GBP of 61%, and 58% constant currency, compared to the first quarter last year. This is again significantly higher growth than the overall market and indicates that we are continuing to take market share across the board.
"Gross winnings revenue in the Nordic region grew by 58%, while Western Europe grew by 63%; in both regions the organic growth in constant currency was approximately 40%. In the period up to April 24, 2016, average daily gross winnings revenue has increased by approximately 50% compared to the same period in 2015, despite lower sports betting margins.
"Excluding iGame Group and Stan James Online the organic increase is well over 20% in constant currency."