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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
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Leisure, gaming and gambling

West Ham sponsor Super Group rallies as revenues pick up

SuperGroup posted big gains in overnight trades as business recovered in all areas bar North America in its latest quarter.

Second-quarter revenues rose by 19% to €381 million, which fed through into a 30% jump in underlying operating profit to €70 million.

Europe and Africa/Middle East revenues almost doubled, offsetting a dip in North America where the gaming company had problems in Canada with its spin business due to regulatory changes.

West Ham sponsor Betway had a good quarter in Europe, with sales up 28% though it did best in the AFME region.

Interim pre-tax profits fell to €46 million from €149 million after a huge one-off gain in the comparable period.

Alinda van Wyk, chief financial officer, said: “Our second quarter results, ex-US, included record revenue.

“Our monthly active customer numbers continue to show momentum reaching 3.7 million which we believe is a key driver for future growth.

“Achieving scale in each of our markets, combined with driving cost efficiencies throughout the business remain our focus for long-term growth and bringing us back to consistent ex-US EBITDA margin from operations of greater than 20%.”

Shares in the Guernsey-based but US-listed group have tumbled 38% over the past year but were 7% higher overnight at US$2.93.

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