Annual Reports and Accounts 2007-2008

Financial Statements

• Financial Review
  • Trading Summary
  • Finance Income
  • Earnings Per Share
  • Cash Flow
  • Treasury Management
• Corporate Social Responsibility
• Corporate Governance Statement
• Directors' Report
• Remuneration Report
• Regulatory Developments
• Report of the Independent Auditor to the Members of Sportingbet Plc

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Financial Review

Cash Flow

During the year ended 31 July 2008, the Group generated cash from operating activities of £33.0m (2007 restated: £0.1m). As at 31 July 2008, the Group had £49.4m (2007 restated: £34.5m) of cash and liquid resources on its balance sheet, of which £15.2m (2007: £12.9m) related to customer liabilities.

Gross financial liabilities amounted to £10.1m (2007: £5.4m) which comprised £5.6m (2007: £5.3m) bank loans secured on residential properties in the Channel Islands, £4.5m (2007: £nil) contingent consideration following the acquisition of the business and assets of Belmond International Limited and £nil (2007: £0.1m) contingent consideration relating to the acquisition of Sportingbet Italia S.p.A.

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