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Oct 26, 2022 14:15 EEST
October 26 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] reported on Wednesday a consolidated net profit of nearly 18 million levs ($9.22 million/9.2 million euro) for the first nine months of 2022, up from 14.4 million levs in the comparable period a year earlier.
Revenue in the review period jumped by 37.51% on the year to 74.52 million levs, the company said in an interim financial statement.
Growth was mainly driven by higher income from casino games and sports betting. More specifically, casino operations generated 15.2 million levs, which is 31.49% above the prior-year figure. In parallel, sports betting revenue grew by 48.6% to 2.13 million levs.
The company’s operating expenses expanded to 54.4 million levs from 38.2 million levs as costs of hired services surged to 32.9 million levs from 23.5 million levs.
The consolidated figures were released after earlier this week Telematic Interactive reported a standalone net profit of 17.4 million levs and revenue of 18.3 million levs for the first nine months of 2022.
The company said on Tuesday that it is moving ahead with preparations for a potential listing on the Frankfurt Stock Exchange after its board of directors gave the green light to the process at a recent meeting.
As at 1247 CEST on Wednesday, shares in Telematic Interactive traded 0.98% higher at 15.50 levs on the Bulgarian Stock Exchange.
(1 euro = 1.9558 levs)
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