Positive results

With a hostile takeover attempt by Centrebet in progress (see previous InfoPowa report), the directors of Australian sportsbetting group International All Sports are probably relieved that second half 2008 results have been positive.

The results, released this week, show a strong performance with record EBITDA of AU$5 million and pre-tax profit of AU$3.7 million, a 161 percent and 664 percent increase respectively on the corresponding period in 2007.

Casting something of a cloud on the IAS horizon was the news that subsidiary Canbet's ex-Australia operations continued to have a negative impact on overall performance, recording a AU$3.7 million EBITDA loss - a sad contrast to an AU$8 million profit achieved at sister company IASBet.

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