Webis Is In The Black

Isle of Man-based online gaming provider Webis Holdings has released its preliminary results for its financial year showing a 71 percent rise in earnings before interest, tax, depreciation and amortisation.

Earnings for the most recent twelve-month period increased to £757,000 from £215,000 last year to see profits hit £452,000 from 2008’s loss of £347,000.

In addition, group turnover rose by 19.5 percent to £140.1 million from £117.2 million in 2008 helped by a 24 percent increase in business from its BetInternet.com sportsbook to £107.9 million from £86.8 million in the previous year.

Webis also revealed that turnover from its parimutuel European Wagering Services grew by six percent for the year to £32.3 million from 2008’s £30.4 million.

“I am pleased to be in the position of reporting a strong improvement in the figures for the last financial year, which covered a period of uncertainty throughout the global economy,” said Denham Eke, Chairman for Webis.

“Webis Holdings has strengthened its position within its target markets through an increased marketing spend, which has enhanced revenue streams in the group.”