Online wagering products company Centrebet International Ltd
(ASX:CIL) says it expects its earnings for fiscal 2009 to be at the upper end of its earlier guidance of between $10 million and $11 million.
The company’s says the result has been impacted by a number of changes in the industry resulting from deregulation, which Centrebet says it is capitalizing on through successful marketing initiatives delivering longer term growth in market share.
Centrebet says it expects strong profit growth in fiscal year 2010 compared to fiscal 2009, driven by continued market-share growth in Australian online revenue, the successful launch in late May 2009 of the TAB fixed odds management contracts, and new cost controls.
Centrebet International posted net profit of $13 million in 2008.
