Betfred Disclose Pandemic Impact On Accounts

by DailyBriefers
6 comments

The impact of last year’s COVID-19 pandemic on Betfred Limited’s business units has been disclosed in the company’s 2020 corporate accounts (period reported up to 27 September).

As a result of the forced closure of its UK betting estates and additional COVID-19 changes, the Done family-owned betting firm saw their group wagers decrease from £10 billion to £6.5 billion.

Betfred saw decreases in all top-line indicators as corporate sales fell to £524 million, down 16 percent from FY2019’s £621 million.

Despite this, Betfred would report group operating profits (profits from operations and investments) of £104 million, up 40 percent from £75 million in 2019.

Long-running HMRC tax battle

Betfred won a long-running HMRC tax battle over misjudged FOBTs tax charges between 2005 and 2013, resulting in a £99 million credit back.

Betfred’s like-for-like betting duties remained at £55 million, while gaming machine duties fell to £38 million (FY2019: £64 million), according to a breakdown of operating expenditures.

Without its HMRC credit return, Betfred said it would have posted a full-year 2020 EBITDA of £35 million, down 27 percent from £48.5 million in 2019.

Betfred reported a reduction in group headcount to 6900 from 7,150 in its 2020 accounts, with the bookmaker compelled to assess all non-profitable units.

You may also like

6 comments

티비위키 June 18, 2023 - 3:35 am

887044 580885I discovered your blog internet site on google and appearance some of your early posts. Keep up the exceptional operate. I merely extra the RSS feed to my MSN News Reader. Searching for forward to reading more on your part later on! 842012

Reply
dmt vape pen https://exotichousedispensary.com/product/dmt-vape-pen/ August 8, 2023 - 6:37 pm

374964 513701For anybody who is interested in enviromentally friendly points, might possibly surprise for you the crooks to maintain in mind that and earn under a holder simply because kind dissolved acquire various liters to critical oil to make. day-to-day deal livingsocial discount baltimore washington 899615

Reply
https://www.advantageja.eu/supplements/phenq-reviews-know-ingredients-pros/ October 9, 2023 - 6:50 pm

795301 405648The when I just read a weblog, Im hoping that this doesnt disappoint me approximately this one. Get real, Yes, it was my method to read, but When i thought youd have something fascinating to state. All I hear is actually a number of whining about something which you could fix really should you werent too busy trying to find attention. 255952

Reply
fernsehgrößen November 1, 2023 - 7:23 pm

843119 230895Can you give me some suggestions for piece of software writing? 128556

Reply
Bergara rifles November 5, 2023 - 12:24 am

826143 757278Thank you a great deal for giving everyone an extraordinarily particular possiblity to check tips from here. 725320

Reply
click here. November 11, 2023 - 11:03 pm

637398 588101Deference to op , some superb entropy. 88659

Reply

Leave a Comment