Unibet Blames Currency Fluctuations for Negative Q1

The online gambling operator says that currency fluctuations are behind their weak first quarter results.

The renowned gambling provider had a rough start in 2015, as their first evaluation demonstrates. This is their second consecutive quarter showing negative performance updates. In their statement to mobile betting news, the company faults unfortunate currency fluctuations for their poor performance. However, they`ve found a way to present the 0,5% drop in a better light.

From another perspective, the GBP 76,1 million revenue is only slightly down from the GBP 76,5 million reported in the same period last year. Unibet stated that the revenue seems more impressive if shown in Swedish Krona. This way last year’s SEK 818 million gets beaten by SEK 960,1 million, which is a 17% rise.

Concentrating on marketing

The company`s profit before taxation and other costs was down from last year’s GBP 21,3 million to GBP 14,4 million. Another field of drop is the company`s earning per share, which went from GBP 0,544 to GBP 0,351. Gambling news report on bigger marketing expenses in Q1 than in the previous ones. “As we know, it takes some time for increased customer activity to flow through into gross winnings revenue,” said Henrik Tjärnström, the CEO of Unibet.

Tjärnström remained positive by emphasizing the company`s successful marketing campaigns, leading to “all-time highs in customer deposits, sports betting turnover.” He added that “active customers reached a new ATH and even surpassed the impressive activity levels achieved during last year’s World Cup.”