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Euro 2004 boosted UK betting

ukbetting plc (LSE: UKB), online sports content and gaming company, today announces its results for the six months to June 30 2004.

Financial

Group turnover of £43.1 million, up 56% (H1 2003: £27.6 million)
Gaming turnover rose 50% to £36.0 million
Content turnover doubled to £7.1 million
Gross profit rose 148% to £9.4 million (H1 2003: £3.8 million)
Gross profit margins for the Group increased to 21.9% (H1 2003: 13.7%)
EBITDA losses on continuing operations before exceptional items improved 79% to £0.3 million (H1 2003: loss of £1.6 million)
Operating loss on ordinary activities before goodwill and tax of £0.7 million, improved from a loss of £2.5 million in H1 2003

Operations

Gross win margin in the Gaming Division increased to 9.9% from 3.9% in H1 2003
Gaming registered users rose 46% to 225,559 from 154,678
Content site monthly unique users rose by 71% to 5.9 million, viewing 208 million page impressions (H1 2003: 3.44 million; 111 million)
Advertising revenue was £1.6 million, up 140% from £0.7 million for H1 2003
Acquisition of GoldBet takes ukbetting into the European gaming market

Peter Dubens, Vice Chairman of ukbetting plc said,
“The first half of 2004 showed a marked improvement in performance in both the Gaming and Content Divisions, which led to a substantial reduction in losses. This is as a result of both organic and acquisitive growth, in addition to careful cost control and focus on margins, particularly in the Gaming Division. The Company now has a solid foundation for future growth.”

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