* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, June 24, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

    Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

    Top Technology Stocks to Watch Today – June 22nd

    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home General

Spread Betting on Spreadex: FY23 Profit Surges 28%

September 25, 2023
in General
Spread Betting on Spreadex: FY23 Profit Surges 28%
Share on FacebookShare on Twitter

UK-based Spreadex, a sports and financial spread betting services provider, closed fiscal 2023, ended on May 31, with an annual pre-tax profit jump of 28 percent, reaching more than £35.3 million. It netted £28.2 million in profits after taxes.

The astronomical profit was generated on a turnover of over £88.8 million, an increase of about 25 percent. It was significantly higher than the company’s 3 percent turnover increase in the previous fiscal.

“The investments made in FY22, in the foundations required for long-term growth, have driven double-digit year-over-year increases in both revenue and profit. The underlying fundamentals of the business remain strong with both bet numbers and active clients increasing significantly,” the Companies House filing stated.

The investments made by the company were in its business, and primarily in marketing via branding and sponsorships. Indeed, it has numerous active sports sponsorships, including the ones with Watford FC and Blackburn Rovers.

With the increasing turnover, the sales cost of the company increased to £12.6 million from £7.4 million. Its administrative expenses came in at over £41.7 million, compared to £36.1 million in the previous fiscal.

The company’s net assets increased by 16 percent to about £111.5 million. With the healthy profits, it has also decided to pay £12.5 million in dividends, similar to the prior year.

A Preferred Instrument in the UK

Spreadex offers spread betting services, which are extremely popular in the United Kingdom. Unlike other countries, gains from spread betting, sports or financial, are tax-free in the UK. Thus, financial spread betting is preferred over other similar types of derivatives in the country.

The company targets retail and professional clients with its services. It also offers sports fixed odds services. Meanwhile, it gained a sports betting license in Denmark and is now testing its offerings in the country with a ‘soft launch’.

“Spreadex remains the only company that offers both sports and financial spread betting services. The diversity offered by this duel revenue stream continues to be individual to the business,” the filing added.

UK-based Spreadex, a sports and financial spread betting services provider, closed fiscal 2023, ended on May 31, with an annual pre-tax profit jump of 28 percent, reaching more than £35.3 million. It netted £28.2 million in profits after taxes.

The astronomical profit was generated on a turnover of over £88.8 million, an increase of about 25 percent. It was significantly higher than the company’s 3 percent turnover increase in the previous fiscal.

“The investments made in FY22, in the foundations required for long-term growth, have driven double-digit year-over-year increases in both revenue and profit. The underlying fundamentals of the business remain strong with both bet numbers and active clients increasing significantly,” the Companies House filing stated.

The investments made by the company were in its business, and primarily in marketing via branding and sponsorships. Indeed, it has numerous active sports sponsorships, including the ones with Watford FC and Blackburn Rovers.

With the increasing turnover, the sales cost of the company increased to £12.6 million from £7.4 million. Its administrative expenses came in at over £41.7 million, compared to £36.1 million in the previous fiscal.

The company’s net assets increased by 16 percent to about £111.5 million. With the healthy profits, it has also decided to pay £12.5 million in dividends, similar to the prior year.

A Preferred Instrument in the UK

Spreadex offers spread betting services, which are extremely popular in the United Kingdom. Unlike other countries, gains from spread betting, sports or financial, are tax-free in the UK. Thus, financial spread betting is preferred over other similar types of derivatives in the country.

The company targets retail and professional clients with its services. It also offers sports fixed odds services. Meanwhile, it gained a sports betting license in Denmark and is now testing its offerings in the country with a ‘soft launch’.

“Spreadex remains the only company that offers both sports and financial spread betting services. The diversity offered by this duel revenue stream continues to be individual to the business,” the filing added.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FinanceMagnates – https://www.financemagnates.com//forex/spread-betting-on-spreadex-fy23-profit-surges-28/

Previous Post

CoinShares Expands into U.S: Launching Hedge Fund Division

Next Post

Coinbase Bolsters EU Presence: Gains Registration in Spain

Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

June 23, 2025
Atlanta Sports: High school, college and pro sports from the AJC – AJC.com

Atlanta Sports Update: Exciting High School, College, and Pro Highlights

June 23, 2025
US judge blocks slashing of universities’ federal funding from National Science Foundation – Reuters

US Judge Halts Cuts to Federal Funding for Universities from National Science Foundation

June 23, 2025
The Computer-Science Bubble Is Bursting – The Atlantic

Is the Computer-Science Boom Coming to an End?

June 23, 2025

6 Life Moments When Staying Silent Is the Wisest Choice

June 23, 2025
Dollar Gains as the World Awaits Iran’s Response to US Attack – Yahoo Finance

Dollar Gains as the World Awaits Iran’s Response to US Attack – Yahoo Finance

June 23, 2025
The Political Economy of Reform in Lebanon and its Challenges – Middle East Transparent

Unveiling Lebanon’s Reform Journey: Overcoming Challenges and Political Obstacles

June 23, 2025
Three AI Trends Reshaping the Future of Media & Entertainment – TVTechnology

3 Game-Changing AI Trends Revolutionizing the Future of Media and Entertainment

June 23, 2025
Tell us your immigration crackdown story – CNN

Tell us your immigration crackdown story – CNN

June 23, 2025
Promising Technology Stocks To Follow Today – June 22nd – MarketBeat

Top Technology Stocks to Watch Today – June 22nd

June 23, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (697)
  • Economy (713)
  • Entertainment (21,611)
  • General (15,529)
  • Health (9,753)
  • Lifestyle (718)
  • News (22,149)
  • People (716)
  • Politics (720)
  • Science (15,932)
  • Sports (21,210)
  • Technology (15,699)
  • World (693)

Recent News

Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

Marvell Technology Stock Rallies After AI Event Sparks Investor Optimism – Yahoo Finance

June 23, 2025
Atlanta Sports: High school, college and pro sports from the AJC – AJC.com

Atlanta Sports Update: Exciting High School, College, and Pro Highlights

June 23, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version