Bets are off at Betfair in recent weeks
Thursday 30 June 2011
The online gambling firm Betfair posted record profits for its first full year as a listed company yesterday but admitted that revenues have taken a hit in recent weeks.
The betting exchange allows punters to set their own odds and bet against one another. It plans to pay a maiden dividend after underlying profits rose 49 per cent to £79.7m in the year to 30 April.
But it said revenues, which increased 15.4 per cent to £393m, "could have been stronger" after they were hit by declining bets on horseracing and poker and "outages" due to technical problems.
Betfair, whose chief executive David Yu said earlier this week he would step down by 2012, has seen its shares halve in value since it floated at £13 in October. They were flat at 779p yesterday.
- 1 Michael Douglas regrets 'embarrassing' Catherine Zeta-Jones with oral sex comments
- 2 Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
- 3 Tunisian builder has been hailed a hero after knocking gunman to the ground with roof tiles
- 4 German ethics council calls for incest between siblings to be legalised by Government
- 5 Fifty Shades of Grey author E.L James's Twitter Q&A didn't go exactly as planned
Michael Douglas regrets 'embarrassing' Catherine Zeta-Jones with oral sex comments
Kim Jong-un shows off airport designed by architect he likely had executed
Tunisia hotel attack: Locals form 'human shield' to protect hotel from gunman Seifeddine Rezgui
Ex-Scientologist Carmen Llwyelyn blasts 'cult' and her treatment after divorce with Jason Lee
Tunisian builder has been hailed a hero after knocking gunman to the ground with roof tiles
The moment a Queen's Guard soldier lost it and drew his gun at annoying tourist
Greece crisis: The wider lesson is that it’s time to abandon this failed experiment in currencies
'I wish the BBC would stop calling it Islamic State' – David Cameron unleashes frustration at broadcaster
Extend Right To Buy to tenants of private landlords, Labour's Jeremy Corbyn says
David Cameron struck double blow in his hopes to win Britain a new EU deal
Pentagon accuses Russia of 'playing with fire' over nuclear threats towards Nato
iJobs Money & Business
£40000 - £60000 per annum: Recruitment Genius: A Compliance Manager is require...
£22500 - £27000 per annum + OTE £45K: SThree: Since our inception in 1986, STh...
Negotiable: Recruitment Genius: This extremely successful and well-established...
Competitive with monthly bonus: Guru Careers: We are seeking an experienced FX...