Unibet Shows Strong Growth
February 18, 2009 (InfoPowa News) — Unibet's Q4 results released this week show a healthy growth in revenues across all its activities, which to some extent ameliorates the impact on net profits of a foreign exchange loss of £11.8 million over the final quarter and £17.9 million over the year.
The culprit was a €100 million corporate bond used to purchase Maria Holdings, and the end result is a net loss of £900,000 for the quarter, and a net profit for the year of £8.8 million, substantially down from the £18.7 million recorded in 2007.
Gross winnings revenue came in at £34.9 million in the last quarter of 2008 and reached £123.4 million for the full year, up from £24.5 million and £81.4 million respectively over the corresponding periods in 2007.
"During the first six weeks of 2009 we still see a healthy growth in the business. This is why we reiterate that given the growth in the online gambling market it is difficult to determine what impact the actual financial situation in the world has on our business model," said CEO Petter Nylander.
Unibet Group, headquartered in Valletta, Malta, is one of Europe's largest gambling operators with more than 3.1 million customers in over 100 countries.