UK-listed betting and gaming operator Betfair has returned to profit for the six month period ended October 31st following a significant reduction in the company’s cost base, despite revenue falling by 6 per cent to £188.0m on the back of declines in its Exchange and online gaming products.

Revenue for the second quarter climbed by 1 per cent to £97.6m but was unable to offset the company’s poor performance in the first quarter, which saw revenue fall by 13 per cent to £90.4m.

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