“-The profit on ordinary activities for the year was ?24.8m (2008 ?50.5m). …-.During the year the company disposed of its investments in BDD Holding A/S and Invest World A/S, two companies in Denmark, which closed during the year. The company recognised a loss on disposal of these investments of ?11.9m).”-
I am trying to determine whether the loss of ?11.9m relates to Betfair’-s acquisition of Pokerchamps.
Betfair Australasia Pty Ltd had, according to Reuters, recorded a net loss of around A$11.8 million for the year to the end of April 2009. Betfair’-s marketing costs had allegedly increased to A$7.7 million for the year, up from A$1.3 million, “-following the lifting of bans on interstate advertising”-.