Key Highlights
- Net gaming revenue growth of 23% to £147.0m
- Operating profit* more than trebled to £22.7m
- Restructuring completed resulting in improved operating profit margin** of 15.4% (2007 restated:4.1%)
- Sports betting net gaming revenue growth of 45% driven by increased product range and strong performance in Europe and Australia
- Strategic review of marketing partners completed with Spanish and Bulgarian marketing brought in-house
- Solid start to new financial year: revenue growth in excess of 30% in first two months
- Net cash*** of £28.6m
Financial Highlights (from continuing operations)
| 2008 £m | 2007 restated £m | % | |
| Amounts Wagered | 1,364.2 | 1,096.4 | +24 |
| Net Gaming Revenue | 147.0 | 119.4 | +23 |
| EBITDA* | 29.2 | 11.9 | +145 |
| Adjusted Operating Profit* | 22.7 | 4.9 | +363 |
| Group Operating Loss | (1.2) | (33.6) | |
| Diluted EPS (p) | (0.9) | (7.7) | |
| Adjusted Diluted EPS* (p) | 3.8 | 1.1 | +245 |
| Net cash*** | 28.6 | 16.3 | +75 |
* Adjusted to exclude exceptional items, share option charge and amortisation
** Adjusted operating profit as a percentage of net gaming revenue
*** Net of long term debt and customer liabilities