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Betfair “in good shape” despite FY decline

27th June 2013 10:27 am GMT

Betfair is firmly on track despite posting flat revenues and its first loss in a decade, according to chief executive Breon Corcoran.

Speaking following the publication of this morning’s results for its 2013 fiscal year, Corcoran told analysts the operator was making “excellent progress” on the execution of his plan to “focus investment on sustainable revenue”.

He highlighted the fact the business had been able to reduce costs much faster than expected, achieving total savings of [...]

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