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Webris’ financial results for the past 12 months

Webis Holding, an iGaming online provider based in Isle of Man revealed their consolidated financial results for the past 12 months that ended in May 29 which showed a worrying 8% drop in group turnover to £105.6 million when compared to last year.

The income before interest, tax, depreciation and amortisation totalled to £149,000 which was a better result than last year’s loss of £37,000 while the group profits rose up by 16% to £3.04 million over last year suggested to Webris’ results.

Webris also reported that their gross margin rose up from 2.3% to 2.9%, however their loss totalled to £110,000, even though it was better than last year’s figure at £337,000.

Webis stated that operating expenses had increased by 9% to £2.891 million over last year ‘primarily due to increased operating costs on the EWS operation as a result of the exchange loss, payment processing costs and costs of establishing a presence in the United States’ while those for Betinternet.com had fallen.

Denham Eke, Webris Holding’s Chairman stated that“although conditions in the market remain challenging, the board believes that, after a much improved performance from Betinternet.com, this business has the opportunity to further grow its market presence during the forthcoming year.”

“There are now also signs that EWS is again beginning to trade in line with the board’s previous expectations.”

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