Worldspreads hopes for British profit

The Irish Examiner says Irish spreadbetting operation Worldspreads is expecting its British division to make a profit this year after losing €1.6m in 2006.

The paper quotes accounts just filed for Worldspreads, which owns the Sport Spreads and Supreme Odds betting sites, as showing that the group lost €1m in the year to end March 2006.

The group loss for the year is down from €1.6m in the 2005 financial year, which is solely down to starting up its British operations, which will make a profit in the 12 months to the end of March.

The company said its Irish spreadbetting division showed exceptional growth and made a profit before tax of €536,082.

Tags: spread betting, worldspreads

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