Online gambling company Betfair first-half revenue rises 15% to over €390m

Online gambling company Betfair has continued its impressive growth in its latest financial update released ahead of its proposed merger with Paddy Power.

Revenue for the six months to the end of October increased by 15% to £274.4m (€390.4m), despite the same period last year coinciding with a lucrative World Cup.

Betfair’s revenue wasn’t the only financial metric showing improvement during the period with earnings before interest, taxation, depreciation and amortisation climbing 9% to £80.5m; operating profit up 12% to £67.2m and earnings per share of 60.3p all on the up.