UK-listed online gambling operator Betfair saw double-digit gains across the board in its fiscal 2015 results.
On Wednesday, Betfair turned in its preliminary results covering the 12 months ending April 30, which showed revenue up 21% to £476.5m, earnings up 32% to £120.2m and operating profit up 53% to £94.3m.
Betfair says the earnings figure would have risen 53% but for the UK’s new 15% online point-of-consumption tax (POCT), which didn’t kick in until Dec. 1 but still took a £19.2m bite out of 2015’s numbers. Betfair warned that it would have taken a £47m hit had the POCT and the new Irish online betting tax been in place the whole year.
Betfair CEO Breon Corcoran (pictured) called fiscal 2015 an “excellent” year for the company. Corcoran said the excitement surrounding last summer’s FIFA World Cup had allowed Betfair to “engage with many new customers and gain trading momentum” that has continued through the rest of the year.