Betfair sees profit before tax rise 61pc

 
Billy Ehrenberg
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Betfair has seen its profit before tax rise 61 per cent to £61.1m during this financial year (Source: Getty)

Betfair has seen its profit before tax rise 61 per cent to £61.1m during this financial year, according to preliminary results released today.

The period, which does not include the World Cup, also saw EBITDA rise 24 per cent to £91m and dividends up 54 per cent to 20 pence per share.

The results are underlying data and not reported, meaning they have been adjusted to aid comparability.

The company credited better operating efficiency and an expansion of its online marketing capability for the rises.

Breon Corcoran, Betfair’s Chief Executive Officer, said:
"The introduction of the Sportsbook, increased television advertising spend and the strengthening of our online marketing capability have broadened our customer reach and led to a 54% increase in the number of customers acquired in the UK and Ireland. As a result, we have seen three consecutive quarters of double-digit revenue growth in sustainable markets."
The company's results also refected the growing mobile betting market, with its mobile revenue rising 70 per cent.

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