Unibet Reports 22 Percent Jump in Post-Tax Profit

Unlike its predecessor, Unibet's third-quarter report was released without the designation, "unsatisfactory," though sports betting margins continued their downward trend, falling 2 percent to 6.2 percent against the previous-year period.

Gross win for the three months to the end of September rose 4 percent to £20.2 million versus Q3 '06, while pre-tax profit fell 8 percent to £6.9 million compared to last year. Post-tax profits for the quarter, however, were up 22 percent to £6.5 million on 2006 figures.

Despite growing competition in the Scandinavian poker market, the company said it was "on the right track," especially with regard to year-on-year growth in active customers. As of Sept. 30, the company said, it had over 109,000 active poker customers, up 29 percent versus Q3 '06.

Regarding gross win contributions from the group's non-sports betting business--that is, from casino, bingo, poker and games--poker (35 percent) and casino (53 percent) were the largest contributors.

The company was, as it's been, vocal about the arrest of its chief executive, Petter Nylander.

"On the back-drop of recent events, I take for granted that our CEO will be released by the French authorities and be back to work end of this week," said acting Chief Executive Ragnar Hellenius. "We have received significant support and assurance from among others French authorities that the whole situation will be solved."

Last Monday, Nylander was detained by Dutch authorities after a warrant was issued by a French judge in Nantarre for his arrest, and was today extradited to France.

Hellenius observed that the French legal climate was "under change," and that the company was well-positioned to benefit from the loosening of market restrictions.

Looking ahead, the company said it will launch a revamped version of its Web site during the fourth quarter.

In Stockholm, shares in the company were down SEK 2.00 to SEK 205.00.