Ukbetting sees turnover grow 145 per cent

Sports and betting group ukbetting has reported turnover up by 145 per cent to £17.5 million in its half-year results to 30 June.

The figure rises to £21.38m when all of Totalbet's revenue, which is split with previous partner the Tote, is included. It compares with £7.15m in the five months to 31 December 2001.

Advertising revenues leapt to £402,000, from £75,000, while betting customers rose by 37 per cent, from 61,518 to 84,105. Overall, the company posted a £3.13m pre-tax loss.

Ukbetting runs two divisions: its betting business, comprising Totalbet and ukbetting.com; and its content operation, which consists of Sportal.com, bettingzone.co.uk, Sportinglife. com and recent acquisition Teamtalk.

Peter Dubens, deputy executive chairman of ukbetting, said the betting division had already reached operational profitability and that the content arm was "close to breakeven before the Teamtalk acquisition".

Teamtalk has boosted revenue streams beyond advertising to include SMS, telephone and content syndication.

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