SportingExchange Financial Statement for Year Ended 30 April 2009

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&#8220-The profit on ordinary activities for the year was ?24.8m (2008  ?50.5m). &#8230-.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).&#8221-

I am trying to determine whether the loss of ?11.9m relates to Betfair&#8217-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&#8217-s marketing costs had allegedly increased to A$7.7 million for the year, up from A$1.3 million, &#8220-following the lifting of bans on interstate advertising&#8221-.

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