Webis Holdings’ non-executive chairman Denham Eke said the company remains “optimistic” over future growth potential for the business despite reporting an expanded net loss in H1.
Turnover for the six months to 31 November 2023 hit $5.9m (£4.7m/€5.4m). This was 4.8% behind the $6.2m reported in the previous year by Webis, which owns advance-deposit wagering (ADW) operator Watchandwager.com.
Eke and Webis put this drop mainly down to external factors in the second quarter. These, he said, included the cancellation of many US events due to bad weather in the country. On the flip side, Eke said trading was stronger during the summer months.
Turnover decline, coupled with the fact that spending remained level in H1, led to a wider loss for Webis. However, Eke is upbeat about the company’s performance moving into the second half.
“Our principal subsidiary, WatchandWager.com, again had a varied start to the first six months of the financial year,” Eke said. “I remain optimistic that trad..