UK-based gambling firm Webis Holdings Plc saw their share price dip during Wednesday trading with a deepening in first-half losses on-year.
Lower volumes, greater losses
The disappointing results in the latest round of figures have been attributed to a drop in betting volumes with a thinning out of traffic from betting customers.
Pre-tax losses for the six months through November came to $591,000, deepening from $19,000 on-year. This came alongside revenue which was almost half of what it was the year before, falling $5.38 million with the most notable fall in activity coming from the company’s international business-to-business sector.
“Performance has been steady for the new period during a normally quiet time of year for weather and lack of quality content,” Webis said in a statement.
“Overall, we continue to focus on growing player numbers, whilst keeping a close control on costs and implementing further cost efficiencies across the business.”
Webis shares are currently trading down 8.68% or 0.23p at 2.42p per share 27/02/19 14:37 GMT.