The figure represents a drop from the £1.5 billion in the previous report, but the periods don’t match, as Betfred changed its year-end from September to March, so last year’s report covered 78 weeks. On a like-for-like basis, turnover rose by £23.3 million, helped by higher marketing spend to win market share and new customers. Retail still brings in 55% of turnover, down from 61% a year earlier.
Gross profit was £719.9 million and operating profit £74.1 million, after a one-off £4.6 million charge for a cancelled acquisition, while EBITDA reached £140.6 million. Betfred also booked an £801,000 charge for closing a foreign subsidiary tied to its US business, and made a £1.6 million profit on selling its Spanish online business in 2024. Its tax bill fell to £24.4 million from £59.8 million, and staff numbers dropped slightly to 7,795. The company didn’t give a geographic breakdown of earnings, saying it would harm the group.
The period ended before the UK’s higher Remote Gaming Duty started in April 2026. Founder Fred Done has warned that doubling Machine Games Duty would force Betfred to close 495 shops within a year, costing 2,575 jobs, and in August, the company said it was considering closing up to 132 shops.
