Less Ads, More Data, More Tools Register for FREE

Pin to quick picksLAD.L Share News (LAD)

  • There is currently no data for LAD

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Gala Coral revenue up ahead of Ladbrokes merger

Mon, 30th Nov 2015 08:23

(ShareCast News) - Gala Coral Group's full year revenue is up ahead of the proposed merger with Ladbrokes.The betting company released its full year results to 26 September 2015 on Monday.It showed a 6% increase in net revenue to just over £1bn, despite 2014 figures including the impact of the FIFA World Cup.The company's online revenue drove overall growth, with online revenue up £65.2m to £247.8m.However revenue from Coral Retail remained flat at £675.9m, and Eurobet Retail revenues dipped £6.2m to £77.3m.Gross profit rose £14.1m to £699.5m for the full year, and EBITDA was up 1% to £205.3m despite significant regulatory headwinds.Chief executive Carl Leaver said the group's unique multi-channel capability in the UK and Italy continues to be a key driver of value."Connect customers are contributing over 40% of Coral.co.uk gross win, while in Italy, multichannel acquisition helped propel Eurobet.it to the number 2 position in the online sports market."Analysts at Shore Capital said its performance was "consistent with our expectations for Coral ahead of its proposed merger with Ladbrokes and demonstrates the momentum the group could bring to the enlarged group".Trading since the results is also looking up, with Gala Coral Group reporting Coral Retail like-for-like stakes ahead by 2.3% and Eurobet Retail sports stakes 32.6% ahead on a constant currency basis.Online growth was also strong, with Coral.co.uk sports stakes up by 57.6% and Eurobet.it sports stakes up by 89.9% on a constant currency basisThe results excluded results from Gala Retail, which was acquired by Caledonia Investments earlier this year.The merger between Gala Coral Group and Ladbrokes is awaiting approval from the Competition and Markets Authority.
More News
26 Aug 2016 08:22

BUZZ-Ladbrokes: boosted by Berenberg upgrade

** British bookmaker Ladbrokes' shares up 2.2 pct among top gainers on FTSE Mid 250 index after Berenberg raises to "buy" from "hold, hikes PT to 185p from 130p ** Brokerage cites approval of merger with Gala Coral & estimates 2017-18 EPS +15% for cos together ** Coral results (due Au

Read more
26 Aug 2016 07:07

LONDON BRIEFING: All Eyes Turn To Fed Chair Yellen's Speech

Read more
24 Aug 2016 09:13

UPDATE 1-Paddy Power Betfair expects faster cost savings from merger

* Increases cost savings to 65 mln pounds from 50 mln * May seek further deals or return cash to shareholders * Combined group EBITDA up 31 pct to 181 mln pounds (Adds details on strategy, CEO interview) By Padraic Halpin DUBLIN, Aug 24 (Reuters) - Gambling company Paddy

Read more
19 Aug 2016 12:07

Friday broker round-up

(ShareCast News) - GKN: Goldman Sachs reiterates neutral with a target price of 311p. Admiral group: Canaccord maintains hold with a 2100p target. Standard Chartered: UBS reiterates sell with a 600p target. Intertek: Berenberg reiterates hold with a 3600p target. Kaz Minerals: Credit Suisse keeps

Read more
12 Aug 2016 09:37

WINNERS & LOSERS SUMMARY: CEO Change Sends Restaurant Group Higher

Read more
12 Aug 2016 08:29

BROKER RATINGS SUMMARY: Merrill Lynch Upgrades Tullow Oil To Buy

Read more
10 Aug 2016 17:28

UPDATE 1-Rank Group, 888 push for William Hill board talks as detail bid

(Adds details, shares) By Pranav Kiran Aug 10 (Reuters) - Casino and bingo hall operator Rank Group Plc and online gambling company 888 Holdings Plc called on Wednesday for talks with the board of William Hill Plc after their proposed joint bid was rejected by the British bookmaker.

Read more
9 Aug 2016 17:34

UPDATE 3-British bookie William Hill spurns $4.1 bln Rank-888 bid

* Bookmaker rejects 364 pence-a-share-approach * Says 16 pct premium undervalues group * Shares were higher than bid level in March * William Hill closes up 0.49 pct, 888 and Rank down (Adds closing share prices, details on Betfair) By Paul Sandle and Rahul B Aug 9

Read more
9 Aug 2016 08:33

BROKER RATINGS SUMMARY: Cantor Upgrades easyJet To Buy From Hold

Read more
5 Aug 2016 10:22

UPDATE 1-Online problems depress profit for bid target William Hill

* First-half operating profit falls 16 pct * Poor online performance blamed * Says still waiting to hear details of 888-Rank approach (Adds CEO comments, shares) By Paul Sandle LONDON, Aug 5 (Reuters) - William Hill, the British bookmaker that last month sacked its chief

Read more
4 Aug 2016 11:11

UPDATE 1-Surprise soccer results boost profits for Ladbrokes

* H1 operating profit up by a better-than-expected 34 pct * Full-year consensus seen rising 5-8 pct * Boosted by favourable results in soccer offsets (Adds comments by CEO, analysts, share price) By Paul Sandle LONDON, Aug 4 (Reuters) - Soccer club Leicester City's fairy

Read more
4 Aug 2016 08:15

Ladbrokes leaps on back of thoroughbred first-half results

(ShareCast News) - Bookmaker Ladbrokes first-half profits beat management and City forecasts by a length as favourable results from the sporting gods put an extra sheen on the progress being made after last year's strategic rejig. Having got of to a strong start in the first quarter, growth accelera

Read more
4 Aug 2016 06:20

Ladbrokes first-half profit helped by favourable sports results

LONDON, Aug 4 (Reuters) - British bookmaker Ladbrokes reported a better-than-expected 34 percent rise in first-half operating profit on Thursday, helped by some bookmaker-friendly sporting results. The company, whose 2.3 billion pound ($3 billion) merger with rival Coral was approved last

Read more
26 Jul 2016 09:01

Ladbrokes, Coral must sell 350 to 400 shops to get merger clearance, says CMA

(ShareCast News) - The Competition and Markets Authority has confirmed that bookmakers Ladbrokes and Gala Coral will have to sell 350 to 400 shops in order to obtain clearance for their proposed merger. The regulator said on Tuesday that it has identified 642 local areas where the merger could resul

Read more
26 Jul 2016 06:49

UPDATE 1-Ladbrokes, Coral must sell stores to get merger cleared - UK regulator

(Adds detail, background) LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.