Betting operator Gala Coral has reported a 12% increase on year-on-year sales to £356.1 million (€432.8 million/$592.6 million) for the first quarter of the 2014 financial year.In the three months through to January 18, Gala Coral’s gross operating profit increased by 6% to £255.1 million, with the company citing growth in its online business for the improved figures.
Gala Coral’s online business registered an £11.1 million increase in gross profit – a 43% year-on-year increase – with the number of active customers growing across all of the group’s websites.
Coral.co.uk’s figures rocketed by 60%, Eurobet.it increased by 18%, Galabingo.com shifted up by 19% and Galacasino.com shot up by a huge 142%.
Overall EBITDA was £60.5 million, 2% higher than the corresponding period of the previous year, despite the “adverse impact of exceptional football losses” of £11.6 million due to unfavourable results.
“The group delivered strong underlying EBITDA growth in the quarter, as we continued to leverage the investments we have made over the last two years, particularly in online and in Italy,” Gala Coral Group chief executive officer Carl Leaver said.
“Active customer numbers are increasing strongly across all our online websites and spend per head is exceeding our expectations. This clearly demonstrates that, with market-leading brands and technology, we can achieve significant growth from this business in the years to come.
“I am also pleased with the continued underlying growth in Coral Retail and with the initial results from ‘Price Smash’ and the Genesis concept clubs in Gala Retail, with admissions in growth for the first time in over 12 months.”
source : www.igamingbusiness.com
