Betting exchange Smarkets has reported a rise in profits of more than 1,500 per cent in its annual report for the year ending December 31.
Over £1bn worth of trade was executed on the Smarkets exchange during the 12-month period.
The Malta and UK-based company reported operating profit of £5.2m, up from £316,000 in the previous year, with group revenue up by 429 per cent year-on-year to £10.4m.
Jason Trost, chief executive of the company, said: “Smarkets is going from strength to strength with a momentum that is undeniable and I am confident of the success of our journey to deliver the unique customer experience that we strive for and to establish ourselves in the top tier of technology companies.”
