Spreadex Limited reported record turnover of £103.3 million for the financial year ended May 31, 2024, a 16% increase from £88.8 million in the prior year, according to accounts filed with UK Companies House.
The sports and financial spread betting firm posted operating profit of £39.8 million, up 15% from £34.5 million in fiscal 2023. Profit before tax climbed 20% to £42.2 million from £35.3 million, while profit after tax reached £32.4 million, a 15% increase from £28.2 million.
The St. Albans-based company, which offers both sports and financial spread betting services from a single account, completed the acquisition of Sporting Index Limited in November 2023. The deal is currently subject to a Competition and Markets Authority investigation, with a statutory deadline of Nov. 26, 2024.
Net assets strengthened 15% to £128.1 million from £111.4 million. The group paid dividends totaling £15.8 million during the year, up 26% from £12.5 million in fiscal 2023.
Average headcount rose to 193 employees from 172, an increase of 12%. Staff costs including wages, social security and pension contributions totaled £24.6 million, up from £18.7 million.
Directors’ remuneration increased to £2.4 million from £2.3 million, with the highest-paid director receiving £1.03 million. The group noted continued investment in marketing and Championship football sponsorship activity contributed to growth.
