Webis marketing boost leads to 35 % rise in turnover  12/02/2009

Jake Pollard

Betinternet and European Wagering Services’ parent company Webis Holdings has credited increased marketing spend and the European Football Championships with it achieving a 35% increase in group turnover to £71.5m for the six month period to the end of November.

The company said the operating profit of £256,000 and post-tax profit of £252,000 for the period, compared to the £44,000 and £388,000 respective losses over the corresponding period in 2007 “represent a substantial turnaround in the performance of the business”.

As well as boosting the turnover of its Betinternet sportsbook portal by 44% to £56.4m, from £39m a year ago, the European Championships also helped Webis increase play through its two casino and fixed-odds games from the end of the Championships through to early August, as players sought alternative opportunities due to a shortage of quality football matches on which to bet. Webis also stepped up its horse race sponsorship under the Betinternet brand during the period and in November launched its first sports book white-label solution.

Turnover from Webis’ European Wagering Services (EWS) pari-mutuel business increased by 8% increase over the period, helped by a steady increase in customers through the link2bet.com website launched in September 2008.  

Commenting on the results, Denham Eke, chairman of Webis, said:  “The board's strategy of focusing on marketing initiatives and the ongoing development of the company's IT systems and website in tandem with capital expenditure, where appropriate, is beginning to reap rewards. The board is optimistic about the company's future prospects and I look forward to providing an update on further progress in due course."

Eke said the board was optimistic the company could continue to grow Betinternet.com and EWS during the second half of the financial year, despite the consistently challenging global economic conditions.

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Posted: 12/02/2009