32RED REVENUES UP IN H.1 2008

29 August 2008

Cost effective marketing responsible for better results


Having shed itself of sportsbetting site BetDirect earlier this year, the online casino, bingo and poker room group 32Red.com seems to be shaking free of negative territory, judging by its half yearly 2008 numbers to end June released this week.

Revenues soared 26 percent to GBP 6.6 million (H1:2007 GBP5 million), and the company reported a profit of GBP 800 000 compared to the same period last year, when a loss of GBP 10.45 million gave investors the jitters. Much of the success was due to cost effective marketing, the company said.

EBITDA for the first half before share option costs was up 17 percent at GBP 1 million.

Company chief Ed Ware said that prospects for the rest of the year were very encouraging, with the second half starting well.

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