LONDON (dpa-AFX) - Sports betting and gambling company Flutter Entertainment PLC (PDYPY) Wednesday reported a profit before tax of 83 million pounds for the first half of the year compared with a loss before tax of 51 million pounds in the comparable period last year, helped by revenue growth.
Excluding one-time items, adjusted profit before tax increased 64% to 454 million pounds from 277 million pounds a year ago.
The company reported a net profit of 128 million pounds or 73.8p per share in the first half, compared with a loss of 112 million pounds or 64.7p per share a year ago.
Adjusted earnings increased to 420 million pounds or 237.5p per share from 177 million pounds or 97.2p per share in the previous year.
Revenue for the period grew 42% to 4.809 billion pounds from 3.388 billion pounds last year. The company's US business grew revenue by 63%, UK and Ireland by 13%, and international revenue by 8%.
Looking forward, the company said it expects full year Adjusted EBITDA to be broadly in line with market expectations.
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