Betfair continued its push into regulated gambling markets as it posted record earnings and raised its interim dividend by 50 per cent.

During the past year it has sought to refocus marketing towards licensed countries, such as Britain, Ireland and the US, and away from so-called grey markets such as Germany, Greece and Cyprus, to reduce its regulatory risk.

Announcing results for the six months to the end of October, Betfair said sales in regulated markets now accounted for 77 per cent of revenues.

Earnings before interest, tax, depreciation and amortisation were £48.9 million – a 16 per cent rise on an underlying basis, excluding restructuring costs. Underlying pretax profit was £32.5 million, up 56 per cent on last year.
– Copyright The Financial Times Limited 2013