5th Sep 2013 06:56
LONDON (Alliance News) - Betfair Group plc. (BET.L) in its interim management statement, said that total revenue for first-quarter ended 31 July 2013 declined 13% to 90.4 million pounds from last year's 103.8 million pounds, reflecting its continued focus on sustainable markets, the impact of regulation and absence of a major football tournament in the period.
Underlying EBITDA rose 16% to 24.9 million pounds from the prior year's 21.5 million pounds driven by cost savings and higher marketing costs in first-quarter of fiscal 2013 relating to Euro 2012, offset by lower revenues. The underlying EBITDA margin was 27.5%, up from 20.7% in the prior year.
The company said its first quarter performance is in line with its plan and is on track to meet the Board's expectations for the full year.
Copyright RTT News/dpa-AFX
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