Sportingbet Release Q3 Results
By emily
Sportingbet, one of the world's leading online betting and gaming groups, has announced its unaudited results for the third quarter and cumulative results for the nine months ended 30 April 2005.

Financial Highlights for the three months ended 30 April 2005 include an increase in turnover of 31.1% to £390.5m (2004: £297.8m). Sportingbet’s gross margin was up 137.5% to £57.0m (2004: £24.0m) as was operating profit pre goodwill amortisation with an increase of 242.4% to £20.2m (2004: £5.9m).

A strong performance from Paradise Poker, contributed £9.1m to operating profit. Excluding Paradise Poker, operating profit increased 88.1% to £11.1m. Profit before tax was up 226.2% to £13.7m (2004: £4.2m) and cash generation from operating activities also rose 211.7% to £18.7m (2004: £6.0m).

Basic earnings per share pre goodwill amortisation rose 83.3% to 5.5p (2004: 3.0p) and fully diluted earnings per share, pre goodwill amortisation rose 100.0% to 4.2p (2004: 2.1p).

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