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Annual Report & Accounts 2009 - Notes
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47 12.4 Summarised income statement for Betboo for the period from 2 July 2009 to 31 December 2009 Year ended 31 Dec 2009 c000's Net Gaming Revenue 2,180 Cost of sales (508) ----- Gross profit 1,672 Gross profit ratio 77% Marketing and affiliate costs (299) Contribution 1,373 Other operating costs (1,270) ----- Clean EBITDA 103 Exceptional items - Share Option Charges - ----- EBITDA 103 Depreciation - Amortisation (607) ----- Operating Profit (504) Financial income - Unwinding of discount on deferred consideration (467) Other Financial expense (5) ----- Loss before tax (976) ----- Due to a lack of IFRS specific data prior to the acquisition, pro-forma profit or loss for the combined entity for the complete 2009 period cannot be determined reliably. 12.5 Deferred Consideration The deferred consideration has been discounted to reflect its fair value at the date of acquisition. The effect of this discount will be unwound over the period of the deferral with a charge to the income statement contained within interest expense. The expected impact of this over the earn-out period is shown below: 2009 2010 2011 2012 d000's g000's g000's g000's Balance at 1 January - 5,354 6,441 7,768 Fair value of deferred consideration on acquisition 4,887 - - - Unwinding of discount charged to income statement 467 1,087 1,327 1,195 ----- ----- ----- ----- Balance at 31 December 5,354 6,441 7,768 8,963 ----- ----- ----- -----