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Betsson Strongest Earnings Ever
The Swedish betting group Betsson has delivered its strongest quarterly report yet despite the difficult trading conditions in the markets it serves.
Highlights from the company's fourth quarterly report this week include:
* The fourth quarter was Betsson's strongest quarter ever
* Revenues rose by 69 percent to SEK 321.1 (189.8) million
* Operating income more than doubled to SEK 91.9 (43.5) million
* Income before tax increased to SEK 93.6 (45.2) million
*Income for the period totalled SEK 92.9 (43.1) million, corresponding to SEK 2.37 (1.10) per share.
Operations over the full year 2008 were similarly positive:
* Revenues rose by 60 percent to SEK 1,037.8 (649.0) million
* Operating income increased 46 percent to SEK 276.6 (189.9) million
* Income before tax was SEK 280.7 (192.7) million
* Income for the year totalled SEK 267.3 (179.4) million, corresponding to SEK 6.81 (4.55) per share
* Cash at the end of the year were SEK 373.2 (232.7) million and the group still has no interest-bearing liabilities.
* The board of directors proposes an increased transfer to shareholders of SEK 5.10 (5.00) per share through automatic redemption procedure.
Pontus Lindwall, Betsson's President and CEO, commented on the results Friday, saying: ”We have experienced solid growth during the quarter and the whole year, with increased activity recorded at all Betsson's websites. We are planning for strong continued growth and do not as yet see any signs of stagnation.”
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