Chairman’s AGM statement 19 December 2012
19 Dec 2012
At the Sportingbet AGM to be held today at 10.30am the Chairman, Peter Dicks, will make the following statement:
‘As outlined in the first quarter statement, trading conditions were challenging in the first three months of the financial year to the end of October 2012. The Group has seen a return to more normal levels of activity in November and in the first half of December. The Board remain confident that the results for the full year ending July 2013 will meet its current expectations. Any shortfall in Australian trading in the first three months of the financial year that are not recovered during the remainder of the year, will be offset by tighter cost control across the Group.
November trading saw Australian amounts wagered up 11% on the prior year and net gaming revenue (“NGR”) up 14%. The European division saw amounts wagered fall by 30% in November with NGR down 36%. This was in line with our expectations following the disposal of our Turkish language website and the introduction of regulation in Spain. The Emerging Markets division saw amounts wagered down 5% and NGR up 12%.
Trading in December has continued the trends seen in November.’
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