The Profit Track 100 annual league table ranks Britain’s fastest-growing private companies by their profit growth over a three-year period. Betfair has grown profits 146% a year from £1.6m in 2002 to £23.2m in 2005. Staff numbers have risen to 420. It recently agreed to sell up to 23% of its shares to the Japanese technology group Softbank in a deal that reportedly values the betting exchange at £1.5 billion.
Spread betting firm Spreadex was also on the list at number 34 with a 79 per cent increase in profits.
In separate news, Betfair reported to have doubled the numbers of Spanish customers since the beginning of the year. According to the data released for the first quarter 2006, Spain is one of the four fastest growing markets together with England, Ireland and Germany.
“The Spanish market is growing, but the boom of bets in the country has not started yet,” said Sacha Michaud, Director of Betfair in Spain.
“Spain will be, in an immediate future, one of the most important markets for Betfair, according to the evolution it has had in the latest months”.
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