Webis proves a good bet

Shares in online betting group Webis hit a 52-week high after moving firmly into the black in the 53 weeks to 31 May 2009. The company chalked up a pre-tax profit of £0.45m, compared to aa loss of £0.35m the year before, on turnover that rose 19.5% to £140.1m from £117.2m.Turnover on the betinternet.com sports book rose by 24% to £107.9m from £86.8m while its revenue from its totalisator style pari-mutuel business in Europe grew by 6% to £32.3m from £30.4m.'We expect that the forthcoming year will provide us with continued expansion opportunities within both our sports book and EWS [European Wagering Services] operations and we approach it with buoyed confidence,' said Denham Eke, chairman of Webis.