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Sportingbet Forecasts Jump

1 Apr 2004

LONDON – As reported by Reuters: "Online betting group Sportingbet forecasts a 90 percent jump in quarterly profit, exceeding its own expectations for the past three months.

"Shares rose four percent on Thursday morning after the world's largest online betting group said operating profit before amortisation for the fourth quarter to the end of March was expected to be no less than 7.6 million pounds (US$14.11 million) against 4.0 million (US$7.4 million) at the same stage last year.

"It said the strong performance had been generated by a 49 percent rise in sports bets placed with the group during the period.

"…Profit for the full four quarters is expected to be no less than 19.5 million pounds (US$36.21 million), versus 14.6 million (US$27.1 million) previously, and above the consensus forecast of 18 million…"

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