Sweden’s Unibet Group plc has reported a 55 per cent drop in net profit to £3.4m for the third quarter of 2012, following its one-off payment to the Spanish tax authorities as well as higher operating costs and betting duties incurred during the period.

Gross winnings revenue (GRW) increased by 16 per cent to £43.8m, with revenues negatively impacted by currency exchange movements.

“Gross winnings revenues in the third quarter were impacted both by the late start of European football seasons and by the effect of translating results from European currencies into the stronger GBP compared to the third quarter 2011,” said Unibet CEO Henrik Tjärnström.

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