Breon Corcoran, chief executive officer of Betfair, has cited the impact of the group’s mobile platforms and its continued marketing activities as key reasons for the betting operator’s year-on-year growth across key financials in the 12 months through to April 30.
Total revenue in FY2015 amounted to £476.5 million (€661.8 million/$745.1 million), up 21% on the £393.6 million posted in the previous 12-month period.
Earnings before interest, tax, depreciation and amortisation were up 32% on a year-on-year basis to £120.2 million, while operating profit hiked 53% to £94.3 million.
Betfair also noted that earnings per share increased by 75% in the past year, up from 49.0p to 85.9p, while dividend per share jumped 70% from 20p in 2014 to 34p in the last 12 months.
“We are successfully executing our strategy and achieving profitable scale in sustainable markets,” Corcoran said.
“Our investments are working, the business now operates at pace and our people have a strong will to win.
“Product is a key reason why customers join and stay with Betfair.
“Important product improvements, including the extension of Price Rush to each way bets and Cash Out to in-running horseracing, helped to drive a strong performance during these key racing festivals.
“We continue to invest heavily in the business. This year we spent £28m more on marketing and customer bonuses and added more than 60 people to our product development teams.
“Our ‘Tap Tap Boom’ advertising campaign has been effective in showing the simplicity of using Betfair, especially through our market-leading mobile apps.
“We are sustaining our marketing investment throughout the upcoming season, including leading slots on Sky Sports and BT Sport’s football coverage.
“Betfair is well positioned for further growth and we look forward to building on these results in FY16.”
source : www.igamingbusiness.com
