The online spread betting firm announced to have made the loss after taking a gamble to enter the British betting market.
Excluding the loss made on the British market, Sports Spread made a profit on both its fixed odds and spread betting operations of respectively EUR 290,000 and EUR 2.15 million.
Last year, turnover from the company\’s fixed-odds betting business dropped to EUR 6.3m from EUR 8.1m in 2004, while total turnover from the company\’s spread betting business increased from EUR 62.2m to over EUR 70m.
“Overall, the directors are satisfied with the performance of the group in the year and expect that it will become profitable in the next financial year,” the company said.
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