On-line gaming group betinternet.com hopes to make a first net profit for the full year to May as the interims to 1 December were awash with progress. Gross profits put on 23.9% at £1.92m and pre-tax losses narrowed from £596,000 to £135,000 on total turnover of £24.44m (£22.68m). These days internet betting and tote wagering operations make up 85% of sales following a strategic switch away from telephone betting during the past year. During the first half, betinternet achieved a major milestone, making a first profit from its core sportsbook operation. Customer numbers grew 126.5% to 33,944 at the period end. Directors say the substantial investment in Euro Off-Track, its tote joint venture, might be about to bear fruit. One other advantage to bear in mind is that betinternet isn't burdened by the ongoing US regulatory debate - unlike some of its rivals. But its largest market remains the Far East, the fastest area of growth buoyed by rising business in Singapore. As well as further organic growth, chairman Jim Mellon says investors should expect acquisitions to follow. Period end cash looked comfortable at £1.64m, losses are being hauled back and the shares have fallen from a 52-week peak of 24.5p. Add.