The Australian sportsbook reported to have exceeded the forecasts in the prospectus for total revenues and profit before tax for the twelve months ended 30 June 2006.
Total revenues increased by 9% to A$46.6m with a wagering win rate of 5.4%, up from the 4.9% the previous year. The profit before tax was of A$10.0m, up 13.4% over 2005 and ahead of 4.6% over the prospectus forecast, while the net profit after tax was A$2.8m, compared to a loss of A$2.0m in 2005.
Managing Director Con Kafataris said he was pleased with the results and that the company\’s plans of expansion will deliver strong revenue growth in the year ahead. These include a strategy of cross-selling casino and poker products to existing sportsbetting clients, a redesigned Spanish website to target the Spanish market, white labelling opportunities in Europe and the launch of a mobile betting product.
In addition, Centrebet announced that trading has commenced strongly for 2007 and the company is confident to achieve the FY 2007 prospectus forecast.
“We have had a great start for 2007 and I am looking forward to delivering on the initiatives we have commenced and converting some of the other opportunities we are pursuing,” commented Chairman Graham Kelly.
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