Good First Quarter For Neteller

Published: Friday, May 13, 2005 Online-Casinos.com

GOOD FIRST QUARTER FOR NETELLER

Over 1.5 million members and 2 900 signups a day

Online money transfer group Neteller has carried forward its impressive full year numbers with news of strong first quarter trading.

The group said the first quarter of the current year "...continued a very positive trend in terms of growth, increased margins and profitability."

The company acts as a clearing house for online gaming groups, and claims it surpassed the 1.5 million member mark in March with a record average daily signup level of nearly 2,900.

Signups rose 38 percent from the previous quarter and 75 percent from the same period a year ago.

Pre-tax profits rose 136 percent to $18.2 million for the three months to March from a year ago while revenue increased by 121 percent to $34.2 million. Earnings per share rose 158 percent to $0.14.