British bingo operator Tombola's revenue rose 15.0% to £120.1m (€139.0m/$165.1m) for the year ended 30 April, 2020, but higher staffing costs contributed to profit declining.
The year included around six weeks of lockdowns that saw all bingo halls shut in Tombola’s key markets of the UK and mainland Europe.
Gambling advisory business Regulus Partners estimates that around 60%, or £72.0m, of this total, came from the UK.
Tombola’s costs of sales came to £85.3m, up 19.7%, leaving gross profit of £34.7m, up 4.3%.
The operator then paid administrative expenses of £22.7m, up 10.8%. Much of this spending was on staff, as wages and salary costs were up 13.3% to £15.3m, while overall staff costs grew 12.8% to £17.6m.
This left £12.0m in operating profit, a 6.7% decline.
The business paid interest income, which dropped 87.2% to £50,000, and interest expenses of £33,000.
It paid a further £2.7m in tax, up 35.1%. Tombola’s total tax bill was £3.0m – of which £1.5m was from UK corporati..