October 24 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said on Monday that its standalone net profit rose to some 17.4 million levs ($8.7 million/8.9 million euro) in the first nine months of 2022, compared to 14.3 million levs in the like period of last year.
Total operating revenue in the review period came in at 18.3 million levs compared to 15.7 million levs a year earlier, the company said in an interim financial report.
As much as 90.6% of the company's operating revenue was generated from online casino operations. Telematic Interactive owns the PalmsBet casino brand. Sports betting increased its share of the company's sales by one percentage point to 9.3%, with other services making up the balance.
The company grew its active client portfolio by 69.8% to 78,416.
Telematic Interactive's expenses rose to roughly 52 million levs in the January-September period from 37.2 million levs in the like period of 2021. The increase was due to a 40% jump in the cost of hired services to 32.3 million levs as well as a 79% surge in personnel expenses to 3.45 million levs.
In June, Telematic Interactive shareholders approved the distribution of a gross cash dividend of 10.15 million levs, along with a dividend in specie in the amount of 8.64 million levs for 2021.
As at 1509 CEST, shares in Telematic Interactive traded 2.04% higher at 15.00 levs on the Bulgarian Stock Exchange.
(1 euro = 1.9558 levs)