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I drive through a poorer part of Glasgow every day in an area full of Chicken Cottages and bookmakers. The most prominent and newest entry is the Paddy Power shop and how it stands out! They seem to be expanding rapidly and are constantly marketing themselves. This share is on my radar. I am 96% up on WMH in the last 18 months and now looking for growth in PAP. Any thoughts? Do we have more upside here? Thanks.
Commenting on the results, Chief Executive Patrick Kennedy said: "Revenue growth in our existing businesses has accelerated with a 29% increase and each of the divisions achieving double digit growth." The group has launched into the Italian online market and three further new revenue streams set to contribute in the second half of the year, he added. "With our Online and Retail divisions both continuing to deliver substantial growth and our expansion plans progressing, we are confident in the Group's prospects for the rest of the year and beyond."
Irish bookmaker Paddy Power revealed an impressive increase in half year profit and revenue following strong online growth and a robust performance in Australia following its investment last year. Pre-tax profit rose to €68.7m for the six months ended 30 June 2012 from €56.8m the same time a year before. Operating profit advanced 7 per cent at €48.5m. Diluted EPS rose 25 per cent to 121.5 cent, despite some adverse sports results since its May trading update, the group explained. Net revenue grew 29% in constant currency with double-digit growth in every division. Gross profit increased to €264.9m from €200m the previous year. Paddy Power incurred start-up losses of €6.3m in the period after four new online ventures. It has net cash of €186m. The group said the second half of the year has started well as it continues to invest at an increased rate for expansion. Its new mobile and tablet-led casino product Roller, BetDash and a product called Cayetano are expected to contribute to revenue in the second half of 2012.
peel hunt....... The same broker is also expecting Irish bookie Paddy Power to serve up impressive results on Wednesday. Australia and the online business are once again likely to be the main drivers, the broker thinks, and given the recently reported experience of Ladbrokes there may even be signs of recovery in the bookie's home market of Ireland. "The cash pile is growing and there is likely to be an increasing interest in what the group intends to do with this," Peel Hunt suggests.
Daniel Stewart continues to hold a "buy" stance and 334p price target on gambling firm Playtech (PTEC), believing the firm's new mobile offering Mobenga has launched nine new casino games on-line with Paddy Power (PAP), which it also holds a "buy" stance on. The broker noted that the move makes strategic sense due to the cross selling opportunities between sports betting and casino games. With Paddy Power holding a circa 30% market share of the mobile sports betting market in the UK, Daniel Stewart believes both businesses will benefit from the new product launch.
It says there are several 'material' growth opportunities for Paddy Power. These include further growth of the core online business, driven by mobile and new games developments. It sees progress in Australia, aided by an improved technology platform and the replication of successful marketing techniques used in Europe. It also believes Paddy Power can expand its business-to-business arm to build on gains seen in France and Canada. The cherry on top would be favourable regulatory changes in Australia and potential expansion into the US where it has applied for a licence in Nevada.
This is wholly deserved as Paddy Power is a premium operator. The balance sheet is debt free. It achieves high margins and a forecast return on sales of 21.6% for 2012 provides plenty of money to reinvest in the business. Earnings and dividend growth have consistently been achieved over the past five years, despite the costs incurred to expand the business. Paddy Power is making headway in Australia, France and Canada and will this year make its Italian debut. Irish stockbroker Davy reckons the shares will rise to €53 by March 2013.
There is no loyalty in the world of gambling, so having great marketing is paramount to success. Paddy Power (PAP) is arguably the king of self-promotion and this is reflected in stellar earnings growth, share price performance and geographical expansion. Do not be put off by the high rating - it trades on 21 times forecast 2012 earnings.
Hi folks, Just posted Part IV of The Great Irish Share Valuation Project, including valuation and commentary about Paddy Power: http://wexboy.wordpress.com/2012/02/08/the-great-irish-share-valuation-project-iv/ Cheers, Wexboy
Paddy Power plc 14 December 2011 Paddy Power enters Canadian market through partnership with British Columbia Lottery Corporation Paddy Power plc ("Paddy Power") has today signed a three year agreement with British Columbia Lottery Corporation ("BCLC"), the provincial lottery operator in British Columbia, Canada, to supply product, pricing and risk management services to its online sports betting business from the summer of 2012. BCLC is the only operator permitted under Canadian law to offer sports betting in British Columbia and, in order to obtain the contract, Paddy Power successfully gained approval from the Gaming Policy and Enforcement Branch of British Columbia to provide a variety of gaming services. Commenting on the news, Paddy Power Chief Executive, Patrick Kennedy, said: "We are delighted to be partnering with BCLC. They are our first lottery partner, and this is our first transaction in North America, a geography which will be of increasing strategic importance to us in the future. Today's announcement is a further endorsement of our product and partnership capabilities. As the global online market continues to regulate, these qualities continue to position us strongly for future international expansion." Rhonda Garvey, Vice-President eGaming, BCLC, said "We are very excited about our partnership with Paddy Power and the opportunities it will bring to PlayNow.com. Paddy Power's proven expertise and product integration with the PlayNow.com/OpenBet system is essential to providing our players with an unparalleled online sports betting experience." Issued on behalf of Paddy Power plc by Drury. For reference: Patrick Kennedy Jack Massey Chief Executive Finance Director Paddy Power plc Paddy Power plc Tel: + 353 1 404 5912 Tel: + 353 1 404 5912 Billy Murphy / Anne-Marie Curran Jon Earl / Rob Greening Drury Powerscourt Group Tel: + 353 1 260 5000 Tel: + 44 20 7250 1446 Mobile: +353 87 286 4079 (AMC) Mobile: + 44 7809 698 259 (RG)
Punters betting on their mobile phones and the web helped bookmaker Paddy Power to score a big first-half profits win. It boosted online profit by a quarter to 45.3million euros (£39.8million) in the six months to June 30, almost as much as its total profits a year ago. Customers on Paddypower.com rose by nearly a half, according to the Daily Express.
The gambling industry tends to react to Paddy Power with a weary “not them again, give it a rest”, says the Investment Column at the Independent. Ladbrokes and William Hill’s noisy neighbour from across the Irish Sea is an expert in marketing and PR. While bookies are struggling to look good this year, partly because of the weak economic backdrop and partly because last year’s figures were flattered by a punters blowing millions on the World Cup, Paddy Power turned in underlying pre-tax profits of €56.8m (GBP50.3m), up 15 per cent, with the online and telephone operations standing out. This is no mean feat. In light of Paddy’s performance and the chance that it could exceed expectations yet again, we would certainly stick with our investment, says the Independent.
Commenting on the results Patrick Kennedy, Chief Executive, Paddy Power plc said: 'These are record results for Paddy Power, with increased profit in all divisions. They demonstrate the benefit of our ongoing business development initiatives and investment, which position the Group well for further growth in 2011 and beyond. 2011 has started well for the Group with turnover up 16% and total gross win up 38% in the first two months versus the same period in 2010 in constant currency.'
Highlights: - Operating profit growth of 56% to €103.8m. Increased profit in all divisions. Adjusted diluted EPS growth of 40% to 168.9 cent; - Substantially increased online scale. Gross win up 88% to €250m. Operating profit up 52% to €75.0m (72% of Group operating profit); - Strong paddypower.com growth. Gross win up 52% to €163.7m. Operating profit up 26% to €57.5m; - Strong Australian performance. Online gross win up 44%*. Operating profit of €19.5m**; - Almost six-fold increase in UK Retail operating profit to €7.4m. EBITDA per shop up 29% to £141,000. 31 new openings; - 8% increase in Irish Retail operating profit to €17.6m. Increased share of market; - Early buy-out of the minority shareholders in Sportsbet giving the Group the benefits of full control; - 29% increase in the proposed final dividend to 50.0 cent per share which would increase the full year dividend by 28% to 75.0 cent per share; - Mobile turnover up more than three-fold to €112m or 11% of sportsbook stakes. 31% of our online sportsbook customers now transacting with us via mobile, generating 19% of stakes.
http://www.investegate.co.uk/Article.aspx?id=201103070700134032C
Paddy Power profits soars Date: Monday 07 Mar 2011 LONDON (ShareCast) - Irish bookie Paddy Power accompanied record results in all divisions last year with a 28% dividend hike. The firm produced record turnover of €3.8bn in 2010 and operating profit of €104m, while pre-tax profits rose from €67.2m to €104.2m. UK Retail operating profit increased almost six-fold from €1.3m to €7.4m. Irish retail operating profits by 8% to €17.6m. Online operations generated €250m of gross win and €75m of operating profit. Operating profit growth of €26m comprised paddypower.com growth of €12m and Australian growth of €14m. “The year [2011] has started well. Turnover growth and sporting results have been strong, notwithstanding Australia being affected by severe adverse weather. Sportsbook amounts staked are up 16% and total gross win is up 38% in the first two months. This reflects the strong momentum in the Group, as well as a weak 2010 comparable. The group looks forward to 2011 and beyond with confidence,” chief executive Patrick Kennedy said. The dividend for the year rises by 28% to 75c.
corals bookmakers are just revamping my local bookies with state of the art tv screens and monitors and paddy will have to start spending soon or risk losing more market share
on todays daily mailpage 17 .THE COALITION IS PLANNING TOUGHER RULES TO CURB INTERNET GAMBLING.FOREIGN FIRMS COULD BE BANNED FROM ADVERTISING MANY OF THEIR GAMBLING SERVICES IN THE UK DRIVING HUNDREDS OF THEM OUT OF THE COUNTRY
ireland winning the rugby v italy and football v wales will have patriotic punters smiling and paddy power groaning
the irish government is about to levy new taxation measures on internet gambling companies so the gravy train is well and truly over for this company imo.
i feel this company has peaked. christmas trading must have been very badly affected by the weather .nobody has any money to gamble in ireland as celtic bookmakers have proved by going under .the business is under fierce competition in britain with a ladbrokes coral or w hill shop in every street in direct competition.im sure the irish gov ernment is going to follow these companies for additional taxes rather than chase the oap's who built the country.also p power paid 65 million for remaining share in australian bookies and i think that with the terrible floods the australian folk will have their minds concentrated elsewhere.i cannot see where the growth will come from in the forseeable future. dyor and this is just my humble opinion and speak to your own fund manager for further views
a nice little internet gambling company for p power to swallow up especially as webis have a foothold in the us market . webis shares totally undervalued at 2.5p imo. webis have a no risk revenue stream via its pari mutuel turnover. only a matter of time before webis is taken over by ladbrokes w hill or p power. lets see which is the first to react to this well established small company
on todays daily mail page 68 broker collins stewart projects double digit growth over the next three years in global online gambling and that makes webis holdings super value at only 1.25p. a takeover target also imo
Does anyone know if they are paying a dividend this year? If so, how much? Thanks
I was watching boxing today and the guy had paddypower on his shorts he won lol. I think i'll do some research on this one it could be a rite knock-out lol