BUSINESS

Unibet releases annual report

TAGs: Unibet

Unibet chief Henrik TjarnstromUnibet today released their jazzy full colour annual report for the year just gone, their results giving shareholders reason for optimism.

The highlights included profit from operations rising from £32.8m for 2009 to £34.2m with the EBITDA picking up pace from £41.9m to £43.8m as they look to return to a similar level to 2008.

It comes as uncertainty continues to reign over whether they’ll ever try to return to the French market. That doesn’t look like happening any time soon after CEO Henrik Tjärnström attacked the tax rate.

Any deal with Sportingbet could also be dead in the water as the Nordic company looks to forge ahead on their own.

If you add to this the fact that sports betting saw growth of around 22%, thanks largely to the World Cup, you can see why this could be the case.

Tjärnström commented, “The Football World Cup in South Africa was the cherry on the cake in a year that saw us experience real growth in our key Nordic markets again. We also saw an impressive and steady growth in most of our other European markets.”

In terms of what to expect over the coming year, Tjärnström added, The European gambling market looks set to continue its top line growth although contribution will perhaps grow at a slower rate due to taxation levels in some licenced markets. To address this changing market, we intend to strengthen our position in our core markets and develop our operations in Italy, Germany and the UK.”

The report can be seen in its entire gleaming Sunday best at this link.

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