Betsson Q4 And Full Year Results Positive
Published: Friday, February 15, 2008 Online-Casinos.com
BETSSON Q4 AND FULL YEAR RESULTS POSITIVE
Swedish online gambling company up on previous results
Betsson chairman Pontus Lindwall had the pleasure of announcing a sterling set of corporate results for his company as the week closed, announcing net sales up 121 percent to SEK 649 million (last time SEK 293.6 million) and after tax income of SEK 179.4 million.
The group, which is licensed in Malta and uses an interesting mix of operational softwares that includes Net Entertainment, NYX Interactive, Ongame Network, GTS and Dynamite Idea, said it had benefited from investments in marketing and customer offers.
Betsson remains in a cash flush situation, with year end cash at SEK 233 million, SEK 63 million added in Q4.
The good news appears to be extending into the new year, as well with reports of a 6 percent improvement during January and a strong performance thus far in February.
Turning to the Q4 2007 results, Lindwall said net sales climbed 77 percent to SEK 189.7 million (2006: 106.9 million) with operating income up at SEK 43.5 million. The number of active players rose 18 percent to 107 000 during the quarter.
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