Betfred’s latest financial results highlight a turnover figure of £995.6m ($1.3bn) for the full UK tax year ending 29 March 2026, as per the operator’s latest Companies House filing.
Indeed, this marks the company’s last financial report from before the UK Government’s tax levy on the market came into effect. Despite coming before the financial squeeze, however, the overall results highlighted as part of the report make for grave reading – as Betfred appears to already be fighting on multiple fronts following its exit from the US online market in July 2025.
The company’s key metrics
Contextually, this latest filing details financial results from a 52-week period ending 29 March 2026 – Betfred's last comparable filing detailed financial results from a 78-week period ending 30 March 2025 – creating a slightly lopsided appearance when attempting financial comparison.
With this in mind, the turnover of £995.6m for the period ending March 2026 has dropped from a figure of £1.46bn reported for the period ending March 2025. However, within the above context, Betfred also outlined that group turnover had in fact risen by £23.3m over the course of 12 months on a like-for-like basis.
Elsewhere, gross profit also settled at £719.9m, EBITDA at £140.6m and operating profit at £74.1m. Comparatively, results from the longer period ending March 2025 saw gross profit reach £1.07bn, EBITDA reach £293.8m and operating profit reach £209.7m. Net assets rose to £251,193 for the period ending March 2026 compared to £237,549 for the period ending March 2025 – largely thanks to the company’s continued investment into online.
A retail narrowing
The operator’s increased investment into its online segment was also represented over the most recently reported 52-week period, with retail gambling turnover reaching £544m and online turnover over the same period reaching £451.7m.
This split equates to 55% of revenue accounted for by retail, and the remaining 45% coming from online. In the previous period ending March 2025, retail revenue accounted for 61% of the overall figure.
Betfred retail vs online turnover (£bn)
As this report represents the company's last before retail gambling tax skyrocketed from 21% to 40% in the UK this April, it would appear Betfred is already shifting its business model towards online in anticipation of more financially challenging market conditions over the long term.
Outgoings on the rise?
Online investment aside, Betfred has also seen its employee costs rise on a like-for-like basis despite there being a recent headcount reduction – with the operator attributing this to economic factors in the UK. Indeed, the company closed 132 retail shops and cut 600 jobs in the wake of UK tax rises in July.
Last month saw Betfred Founder Fred Done warn that the operator could walk away from its British Classics sponsorship if machine games duty is increased, after also cutting its sponsorship of the rugby league’s Super League.
Betfred began as one shop in Salford, 1967, founded by brothers Peter and Fred Done via winnings from successfully backing England to win the 1966 World Cup
