Best of the Best profit jumps on higher sales

Writer, Stock Market Wire
Wednesday, January 30, 2019 - 14:10

Online competition group Best of the Best posted a rise in first-half profit owing to higher sales and a one-off tax benefit.

Pre-tax profit for the six months through October rose to £3.6m, up from £0.9m on-year.

It included exceptional income recognised from a successful claim for overpaid value-added tax.

Revenue rose 29% to £5.5m and adjusted pre-tax profit rose 15% to £1.08m.

'Our marketing strategy has continued to perform well and driven strong revenue numbers as well as promising growth in newly acquired customers,' chief executive William Hindmarch said.

'We have one remaining physical location at Birmingham Airport and revenues are now generated almost exclusively online.'

'Trading since the period end has been encouraging, with the company well placed for future growth and currently operating ahead of management expectations for the full year.'

At 2:10pm: (LON:BOTB) Best Of The Best Plc share price was +85p at 305p

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