Webis boosted by WatchandWager in first half
Webis Holdings said its core WatchandWager business experienced “significant growth” during the six months to November 30, 2016.
Group turnover in the period amounted to $148.1 million (€139.8 million), up 118.2% on the $67.9 million posted in the first half of the previous year.
Gross profit climbed 44.8% year-on-year to $2.1 million, while operating loss improved from $695,000 in 2016 to $188,000 in the most recent period.
Elsewhere, total loss for the period came in at $215,000 compared to a much higher figure of $715,000 in the first half of 2015, while operating expenses slightly increased to $2.3 million as Webis sought further expansion in the US.
Denham Eke, non-executive chairman of Webis, said: “I am pleased to report further significant growth for WatchandWager compared to the same period in the previous financial year.
“We have seen a substantial increase in turnover during the period, and more importantly an improvement in gross profit, resulting in a further reduction in the losses incurred by WatchandWager, which were reported in the financial year 2015-16.”
Related article: Webis chair hails WatchandWager despite wider losses