betbull - The European Betting Exchange Plc.
euro adhoc: betbull - The European Betting Exchange Plc.
Quartals- und
Halbjahresbilanz
Betbull plc announces its 1st Quarter Results and change of
name
Ad hoc-Mitteilung übermittelt durch euro adhoc. Für den Inhalt ist der Emittent verantwortlich.
31.05.2006
Betbull plc announces its 1st Quarter Results and change of name
Betbull plc announces is 1st Quarter Results for the period 1st January 2006 through 31st March 2006:
Highlights of the period were:
Record revenues of £2.7 m. Loss before tax and exceptional items of £0.13 m bringing betbull close to break even (£0.4 m loss before tax). Cash position of £5.4 m. Opening of additional betting shops under the Leip Group banner during the quarter resulting in betbull having 100 retail shops trading in Germany by the end of the Q1. Leases signed for 3 properties in Andalucia, Spain - betbull will open three ground breaking Sports / Betting bars during the summer. Further retail opportunities opening throughout Europe. Since the end of the period, betbull has begun the introduction of new terminals offering exchange betting products - into flagship stores, on a trial basis.
Additionally betbull announces its change in name from betbull-the European betting exchange- plc to betbull plc to reflect the companys retail strategy and focus going forward.
Record revenues of £2.7 m.
Q1 results have exceeded internal expectations highlighting the excellent purchase of the Leip Group. Net gaming revenue for the Leip group is up 90% on Q1 2005. Stakes for the period of £14 m are up 67% on Q1 2005. The introduction of improved operating procedures has enabled betbull to grow the retail business in terms of outlets, turnover and profit. The Leip Group, purchased in October 2005 has contributed £5.3 m income to the betbull group in the 6 months since acquisition.
Loss before tax and exceptional items of £0.13 m bringing betbull close to break even in 2006 (£0.4 m loss before tax).
The loss before tax of £0.4 m includes a charge for the period of £0.15 in relation to share benefit charge.
Cash position of £5.4 m Opening of additional betting shops under the Leip Group banner during the quarter resulting in betbull having 100 retail shops trading in Germany by the end of the Q1. Leases signed for 3 properties in Andalucia, Spain - betbull will open three ground breaking Sports / Betting bars during the summer.
Betbulls two initiatives in Spain are progressing positively with shops in Andalucia opening this summer and a potential Joint Venture agreement for development throughout Spain close to completion.
Going forward, betbull continues to look to expand its retail shop network in Europe, using its successful strategy of working with local partners either through Joint Ventures or acquisition.
Since the end of the period, betbull has begun the introduction of new terminals offering exchange betting products - into flagship stores, on a trial basis.
Exchange betting costs were further reduced, and the pilot kiosks bringing the exchange product directly into retail outlets, while still in their early days, are proving successful and popular.
Commenting on todays results Simon Bold, Executive Director of betbull said: "We are extremely pleased with the results of this period and the continued success of our retail shops in Germany. We are continuing to develop the shops and products offered as well as sourcing opportunities across Europe to further our goal of becoming the pan European retail bookmaker."
This ad hoc release plus 2006 First Quarter consolidated balance sheet and the profit and loss account are available on the www.betbullplc.com site.
- ENDS -
Contact Alex Mackey, Catullus Consulting (+44 7773 787 458) Catriona MacNiven, Investor Relations Günter Schmid, CEO (upon request) Simon Bold, COO (upon request)
Phone +350 52561
Fax +350 44554
betbull - The European Betting Exchange Plc ("betbull")
1 London Wall
London EC2Y5EBThis communication can be downloaded from the website www.betbullplc.com.
About betbull Betbull has the goal to establish itself as one of the leading Continental European retail betting players.
The high caliber management team (Günter Schmid, CEO and Simon Bold, COO) can resort not only to state of the art bookmaking and operating know how but also relevant M&A expertise and track record.
Betbull was started in 2004 as a joint venture of betandwin.com
Interactive Entertainment AG (stock quoted on the Viennese stock
exchange) and Fun Technologies Plc (formerly traded as CES-Software
Plc, stock quoted on the Alternative Investment Market in London) and
is stock quoted since October 2004 on the Viennese stock exchange
("BETB", "BETB.VI").For further details please refer to the company website www.betbullplc.com.
This communication contains statements about the future (prognoses). Those statements are based on the Directorss opinion, assumptions made by the Directors, and information available to the Directors. One or several factors that the Directors cannot foresee with certainty could result in outcomes and events that deviate from the prognoses. All prognoses are valid only on the date of their announcement. Betbull has no intentions to and is not obliged to update prognoses or to adapt prognoses to future events or developments.
Rückfragehinweis:
betbull - The European Betting Exchange Plc.
Catriona Macniven
Investor Relations
Tel.: +350 77331
e-Mail: c.macniven@betbull.com
Branche: Glücksspiele
ISIN: AT0000615331
WKN: A0DKM0
Börsen: Wiener Börse AG / Börse