Monday October 28,2013 : WEBIS HOLDINGS TURN IN STRONG ANNUAL REPORT
 
Well aligned to take advantage of Californian horse racing opportunities
 
Webis Holdings plc, parent to WatchandWager and betinternet.com, has turned its fortunes around to post a full year Total Comprehensive Profit, its first since 2009.
 
The company said the continued enhancement of its customer-facing website and the recruitment of more experienced industry personnel have put the company on the upward track.
 
Key performance highlights for the year ending May 31, 2013 include:

  • An increase of 48.3 percent in turnover to GBP 168.64 million (2012: GBP 113.75 million).
  • Gross profit of GBP 5.44 million (2012: GBP 3.18 million), up 70.9 percent.
  • Total comprehensive profit increased to GBP 0.355 million (2012: loss of GBP 0.041 million).
  • Basic earnings per share have increased to 0.11 pence (2012: – 0.02 pence)
  • Gross margin improved by 14.3 percent to 3.2 percent (2012: 2.8 percent)
  • Net assets increased by 424.2 percent to GBP 3.11 million (2012: GBP 0.59 million)
  • Company Cash increased by 131.1 percent to GBP 2.59 million (2012: GBP 1.07 million)
  • Successful fundraising generated GBP 0.8 million
  • Successful first full harness racing season at Cal Expo racetrack in California, beating internal forecasts

Denham Eke, chairman of Webis Holdings said: "Both of our operating subsidiaries are now in much healthier positions, with more robust platforms and focused experienced personnel. With a strong balance sheet and the opportunity to invest further in our products, we anticipate the continuation of our growth strategies will be more rewarding in the forthcoming year.
 
“We remain very close to the US regulatory changes and are confident that our online licencing and land-based presence at Cal Expo positions us well for any positive amendments to legalization, particularly within California."