Internet firm’s profit improves

Tuesday, Jan. 28, 2003 | 10:44 a.m.

LONDON -- Sportingbet Plc, an Internet sports-betting company whose shares declined 81 percent last year, said third-quarter profit rose 16 percent after it added customers.

Net income rose to 5.57 million pounds ($9.09 million), or 3.5 pence a share, in the three months ended Dec. 31, from 4.80 million pounds, or 3.2p, in the year-earlier period. Revenue was little changed at 354.3 million pounds, the company said in a Regulatory News Service statement.

Sportingbet, which added 84,725 customers in the quarter, is seeking to expand by running betting operations on other organizations' websites. It won a contract in August to manage sports betting on the website Sports.com.

archive