Betfair has just revealed its financial results for the last six months till the end of October, showing that the total revenues grew 1% year-on-year reaching £191.1 million.

The underlying adjusted EBTIDA for the period rose by 36% reaching £42.4 million while after tax, the profits increased 43% compared with the same period last year, reaching levels of £20.6 million. The company also reported records in its core revenues - a whopping £170.3 million.

David Yu, the outgoing Chief Executive Officer for Betfair said that he’s very pleased with their “performance in the first half of the year with record revenues and profits. After a solid first quarter, we delivered a strong second quarter with core Betfair revenues up 12%. These results were driven by an excellent exchange performance following a very positive start to the football season and improved monetization of activity.”

He continued to say that “Mobile betting has continued to grow strongly in the first half with double the number of mobile bets placed compared to the same period last year. We have continued to make progress in the third quarter with 41% of UK exchange customers placing a mobile bet in November, driving mobile revenues to around 9% of exchange revenues.”

Yu said that their will continue to focus their investment and will shortly introduce mobile gaming and further updates to the existing mobile applications, in order to achieve further growth from this important channel. “While the economic environment remains uncertain, we expect to make further progress in the second half and remain comfortable with the outlook for the financial year”, concluded David Yu.