ECONOMY

Sportingbet profit up despite losing out on Greece

British online gaming firm Sportingbet reported an increase in second-quarter earnings on Thursday despite weakness in key European markets, such as Greece and Spain.

The company said earnings before interest, tax, depreciation and amortisation (EBITDA) rose to 14.5 million pounds in the three months to end January from 13.6 million the year before.

“Strong growth in Australia, Emerging Markets and Turkey more than offset the recessionary weakness of Europe, particularly notable in our larger markets of Greece and Spain. This demonstrates the attractiveness of a geographically diverse operation,» said chief executive Andy McIver.