Entraction’s Good Start To 2008
By Staff
Swedish online poker firm Entraction Holding AB has announced its financial results for the first six months of the year revealing a 48.3 percent increase in net turnover to $24.17 million.

The firm, formerly known as 24hPoker, develops online software systems for poker, sportsbetting and casino gaming in Sweden and stated that cash flow from operating activities for the first six months of the year amounted to $2.36 million while earnings before interest and tax came in at $3.64 million. In addition, the first half of 2008 saw an operating profit of $2.53 million while earnings after tax amounted to $2.42 million.

For the second quarter of the year, the firm revealed that net turnover increased 48.4 percent to $11.93 million while cash flow from operating activities amounted to $1.16 million. Earnings before interest and tax came in at $1.92 million for the second period of 2008 while operating profit amounted to $1.35 million. Perhaps most impressive for the Solna-based firm, it reported quarterly earnings after tax of $1.29 million, which is in stark contrast to last year’s loss of $1.73 million.

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