|UK online and land gambling group Leisure And Gaming has announced that it saw a rise in trading through the final quarter of last year following a period of losses.|
The company, which is currently valued at $11.66 million, stated that it expects to post gross profits of about $6.28 million for the full year with profits for the fourth quarter forecast at around $3.53 million, which is up on 2006’s $589,000.
'We are delighted that, after a disappointing 2007, we ended the year on a high note with very positive trading in the fourth quarter,” said Henry Birch, Chief Executive Officer for Leisure And Gaming.
“Having completed an initial restructuring of our operations and cost base, we feel that we are in a good position to capitalise on the growth in the Italian market where the company is especially active and are optimistic for the year ahead.'
The restructuring was launched in November and included strengthening the company's risk management team, restructuring franchisee commissions, removing under-performing franchisees from its Betshop network and opening a new operations centre in Italy.