Betting exchange Smarkets has reported year-on-year profit growth of more than 1,500% for the 12 months to December 31, 2015.
Full-year operating profit came in at £5.2 million (€6.1 million/$6.9 million), up from £316,000 in the previous year.
Group revenue was up by 429% year-on-year to £10.4 million, with the firm also reporting that over £1 billion worth of trades were executed on the Smarkets exchange during the 12-month period.
Jason Trost, chief executive of Smarkets, said: “Smarkets is going from strength to strength with a momentum that is undeniable and I am confident of the success of our journey to deliver the unique customer experience that we strive for, and to establish ourselves in the top tier of technology companies.
“Our advanced trading platform has now handled over £3 billion worth of bets, and an increasing number of customers are benefiting from our best prices and industry-leading 2% flat commission.”
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