BUSINESS

Unibet release strong results

TAGs: Unibet

unibet 10Nordic-facing operator Unibet saw profits rise 10% in 2011 as they released end of year results. The profit after tax ending the year at this level had much to do with the figure for the fourth quarter rising by 13% and was also reflected in a 14% rise in profits from operations for the year. Success for the group as a whole was driven by operations in the Nordic region that continued to show considerable strength. It was responsible for 58% of revenues and contributed record takings of £57million.

It was something CEO Henrik Tjärnström recognized in the results call, stating: “Our focus on core markets continues to deliver excellent results with All Time High revenues for the Nordic region and this growth has been achieved across both the Unibet and Maria brands. The sustained positive development we have seen in the products offered under the Maria brand continued strongly in this quarter, so that Maria delivered an All Time High for both the quarter and the full year.”

One thing that took the shine off these results was a drop in gross winnings revenue from the company’s sport betting operation. Compared with the year before it was down to £60.9m from £62.6m. This was the only significant bad spot for the company as other parts of the firm saw this off so that gross revenue for all operations was up 5% for the year and 26% for the last quarter of 2011.

Unibet is confident for the year ahead, Tjärnström, adding: “During the first six weeks of 2012 we have seen continued good growth both in terms of revenue and customer registration. We also see encouraging growth in customer intake in Denmark.”

Acquisitions in the Scandinavian market have certainly strengthened their position in that area and they’ll be hoping the same will be the case Down Under and in France.

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