Sportingbet 3rd-period net off; May to date strong
(2:36 AM ET) TEL AVIV (MarketWatch) -- Sportingbet Plc, /quotes/comstock/11i!spbtf (SPBTF 0.00, 0.00, 0.00%) /quotes/comstock/23s!e:sbt (UK:SBT 66.75, +0.10, +0.15%) the U.K. provider of sports-betting services, reported that fiscal third-quarter net income per share fell 11% on 30% higher revenue. For the quarter ended April 30, the company earned 1.4 pence a share compared with 1.6 pence in the year-earlier quarter. Adjusted earnings were 1.7 pence against 1.9 pence. Adjusted operating profit rose 18% to 12 million pounds from 10.2 million pounds. Net gambling revenue reached 55.7 million pounds from 42.9 million. Amounts wagered reached 520.8 million pounds, up 22% from 426.2 million. Andrew McIver, chief executive, said in a Wednesday statement that the operating result pleased the company given "the widely reported economic difficulties in Spain and Greece, which are two of our biggest markets." Also performing strongly: the company's Australia operations. The month of May to date has been "solid," the company said. Much of the rest of the quarter will be determined by the outcome of the World Cup soccer tournament, Sportingbet said.
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