Webis Holdings (WEB)

Sector:

Tourism and Leisure Services

Index:

FTSE AIM All-Share

1.10p
   
  • Change Today:
      0.050p
  • 52 Week High: 1.75
  • 52 Week Low: 1.00
  • Currency: UK Pounds
  • Shares Issued: 393.34m
  • Volume: 158,908
  • Market Cap: £4.33m

Webis losses widen amid divisional difficulties

By Josh White

Date: Friday 24 Feb 2023

LONDON (ShareCast) - (Sharecast News) - Gambling operator Webis reported a 4% fall in amounts wagered to $38.2m in its interim report on Friday.
The AIM-traded firm said turnover for the six months ended 31 December totalled $6.23m, down from $6.8m year-on-year, resulting in a gross profit of $1.99m, compared to $2.18m a year earlier.

That resulted in a loss of $0.33m for the period, widening from the $0.07m loss it recorded in the first half of the 2022 financial year.

Operationally, Webis said its business-to-consumer (B2C) division performed well, contributing 75% of gross margin during the period.

It said it was planning to double its player numbers on the platform by the end of 2024, focusing on the growth of the B2C sector.

The business-to-business (B2B) division, meanwhile, remained "important", but the company said there were challenges in maximising margins in the sector.

Its board said the market was getting tougher, with big players dominating and certain operators willing to take wagers at an almost-zero margin.

"This is not now a model that we are particularly interested in for obvious reasons," the board said in its statement.

Despite that, Webis said it would not abandon the B2B division, and would continue to conduct business in a "legal, licensed, and regulated" manner.

"Our principal subsidiary, WatchandWager, had a mixed start to the first six months of the financial year," said non-executive chairman Denham Eke.

"Trading was strong during the summer months, where we enjoyed excellent commission levels from Saratoga, New York and Del Mar, California."

Eke said that on a less positive note, trading was difficult during the months of September, October, and November, largely due to "exceptionally adverse" weather conditions.

"I remain extremely confident as we approach the spring months that trading will improve in line with expectations, especially as we roll out our new business-to-customer marketing strategy."

At 1311 GMT, shares in Webis Holdings were down 3.72% at 2.07p.

Reporting by Josh White for Sharecast.com.

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Webis Holdings Market Data

Currency UK Pounds
Share Price 1.10p
Change Today 0.050p
% Change 4.76 %
52 Week High 1.75
52 Week Low 1.00
Volume 158,908
Shares Issued 393.34m
Market Cap £4.33m

Webis Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.45% below the market average66.45% below the market average66.45% below the market average66.45% below the market average66.45% below the market average
70.83% below the sector average70.83% below the sector average70.83% below the sector average70.83% below the sector average70.83% below the sector average
Price Trend
70.97% below the market average70.97% below the market average70.97% below the market average70.97% below the market average70.97% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Income Not Available
Growth
60.57% below the market average60.57% below the market average60.57% below the market average60.57% below the market average60.57% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average

Webis Holdings Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:20 78 @ 1.28p
15:15 53,434 @ 1.08p
13:53 123 @ 1.08p
13:15 100,000 @ 1.28p
10:05 5,173 @ 1.07p

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