Betfair Full-Year Profit Surges

reported an increase in its fiscal 2015 earnings. Betfair's pretax profit for the year climbed to 101.2 million pounds ($154.4 million), from GBP61.1 million, a year ago. Underlying profit before tax climbed 55 percent to 94.8 million pounds, versus 61.1 million pounds. Earnings per share surged 75 percent to 85.9 pence, while underlying EPS jumped 62 percent to 79.5 pence. Its revenue surged to GBP476.5 million from GBP393.6 million. EBITDA rose 32 percent to 120.2 million pounds. Chief Executive Officer Breon Corcoran said, "Fiscal 2015 has been an excellent year for Betfair. We are successfully executing our strategy and achieving profitable scale in sustainable markets. Our investments are working, the business now operates at pace and our people have a strong will to win." Betfair's board proposed a full year dividend of 34.0 pence, versus 20.0 pence per share.