Wednesday July 1,2015 : BETFRED DELIVERS

Despite competitive economic conditions and a rise in taxes.

The Done brothers-founded UK online gambling group Betfred delivered an 18-month report ending September 2014 showing a turnover of GBP 13.2 billion and gross profit of GBP 593 million, up from GBP 362 million 18 months ago.

During the period, Betfred said it had contributed GBP 37.7 million to racing and GBP 158.7 million to the Exchequer in taxes.

 “Although we have faced increased taxation, regulation and a very competitive market place we are delighted to report a positive set of results,” John Haddock, chief executive of the Betfred Group, said.

Strong progress has been made across the company’s retail, online, mobile and Tote Pools business.