September 2 (SeeNews) - Online betting operator Telematic Interactive Bulgaria [BSE:TIB] said its net profit increased to 11.07 million levs ($5.66 million/5.66 million euro) in the first half of 2022 from 8.83 million levs in the same period of 2021, supported by higher revenue.
Total revenue rose to 47.5 million levs in the six-month period from 35 million levs a year earlier, the company said in a financial report earlier in the week.
The favourable performance was mainly driven by casino operations, which formed 90% of net sales. In the period under review, casino sales alone jumped by 30% on the year to 40.8 million levs.
Sports betting operations, which accounted for 9.5% of net sales, generated 4.28 million levs, up by 49% on the year.
Telematic operating expenses increased to 35.2 million levs in the months between January and June from 25.2 million levs in the prior-year period. The rise was mainly due to higher costs of hired services and personnel expenses.
By 1306 CEST, shares in Telematic Interactive traded 1.32% higher at 15.35 levs on the Bulgarian Stock Exchange.
(1 euro = 1.9558 levs)