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Sportingbet shares slip
Internet bookmaker Sportingbet.com has been hit by lower profits and a court case going on in Australia.
Last week they revealed pre-tax losses over the last six months of £3.8m and their shares have fallen from a high of 167.5p last December to 42p yesterday.
The court case involves fraud at an Australian transport business. A former employee is believed to have stolen about £7.5m and to have lost a portion of the amount whilst betting online with Sportingbet.com. The amount contested is understood to be £1.3m.
Commenting on their results, well-known Hereford United supporter and vice-chairman of Sportingbet.com Mark Blandford said: "Some might view this as a downgrade. Others will say we are still one of the most profitable internet companies in the world."