|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).