Independent bookmaker Betfred reported it was profitable or tax year 2015/16, posting pre-tax profits of £32.4 million and reversing operating losses of £88 million the previous year.
Betfred officials said that wagering through increased player activity had grown significantly throughout its business properties in a press statement. The bookmaker recorded a total 2015/16 wagering of £10.8 billion, combined with an increased turnover of £578 million.
Betfred said it would continue its commitment to growing its presence within the UK betting market. The company recently completed a £195 million refinancing deal after acquiring Ladbrokes-Coral retail betting shops, during the UK’s review of those firms’ merger.
