Betfair (LSE:BET) Released Mobile and Football Help

Betfair (LSE:BET) released today it’s interim unaudited results for the six months ending 31 October 2011 in online betting and gaming operator reported a higher 1st-half profit, “These results were driven by an excellent exchange performance following a very positive start to the football season and improved monetisation of activity,” said departing chief executive David Yu and the david Yu said, “I am pleased with our performance in the 1st half of the year, with record revenues and profits.

The Yu also reported, “Betfair continues to show strides in the third quarter, with 41% of UK Exchange customers placing a mobile bet in November and the driving mobile revenue to around 9% of Exchange revenue are continuing to focus our investment in the product and will shortly be introducing mobile gaming as well as further updates to our existing mobile sports betting applications, leaving us well placed to deliver further growth from this important channel”.

Financial highlights:

Core Betfair revenue of £170.3m, with 12% year-on year growth in Q2 2

Core Betfair Adjusted EBITDA up 26% to £44.6m 1, 2

Group underlying earnings per share up 43% to 19.5 pence 3

Interim dividend proposed of 3.2p pence per share

£23.7m returned in share buy back to date
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Betfair (LSE:BET) Released Mobile and Football Help
Betfair (LSE:BET) Released  Mobile and Football Help
Reviewed by Merlyn Rosell
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Rating : 4.5