20 Aug 2015 06:42
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Don't have an account? Click here to register.Gala Coral revenue up but losses widen
Wed, 31st Aug 2016 07:51
(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs.In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings before interest, tax, depreciation and amortisation were 13% higher at £57.7m.Meanwhile, online EBITDA came in at £21.6m, up £4.5m, with online net revenue up 19% to £76.3m.However, exceptional costs of £26.2m meant Gala Coral reported a loss of £25.6m compared to a £20.5m loss last year.The company said current trading in the eight weeks post the quarter end has been positive, with continued machines growth in Coral Retail, sports stakes well ahead in Eurobet Retail and good volume growth in Online."Sports gross win margins are, however, behind last year's levels primarily due to poor horse racing results in the UK (especially in the week commencing 15th August) and as a result of very strong prior year comparators in Italy."
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13 Aug 2015 10:21
BUZZ-Playtech: jumps on short-term recommendation from MS
** Online gaming co Playtech up c.5 pct, top FTSE-250 riser in robust volume ** Traders cite short-term trade recommendation from Morgan Stanley on the stock ** Morgan Stanley, who has a "Buy" rating on Playtech with PT of 1030p, expect strong double-digit revenue growth to continue i
Read more11 Aug 2015 16:15
London close: UK stocks end in the red after China cuts renminbi
(ShareCast News) - UK stocks ended Tuesday's session in the red after China's central bank devalued its currency, adding to concerns about the slowdown in the world's second largest economy. Overnight, the People's Bank of China cut the renminbi's daily fixed rate to the dollar by 1.9% to 6,228, the
Read more11 Aug 2015 07:41
Ladbrokes first-half profit falls 44% on taxes, impairments
(ShareCast News) - Bookmaker Ladbrokes posted a 44% drop in first-half pre-tax profit and cut its interim dividend as the company took a hit from taxes and impairment charges, which included the closure of some of its shops. Pre-tax profit for the six months ended 30 June came in at £24.7m from £44m
Read more11 Aug 2015 07:17
London preopen: Stocks expected to slip on yuan devaluation
(ShareCast News) - City sources predict the FTSE 100 will open 13 points lower than Monday's close of 6,736.22. European equities are set to slip on the open following People's Bank of China moves, London Capital Group night dealer Jonathan Sudaria said. "The extreme 'one-off' devaluation in the y
Read more11 Aug 2015 06:31
Ladbrokes first-half profit falls 44 pct
LONDON, Aug 11 (Reuters) - Ladbrokes, the British bookmaker that agreed to buy Gala Coral last month, posted a 44 percent drop in adjusted first-half profit to 24.7 million pounds ($38 million), reflecting lower betting on football and a string of customer-friendly results. Exceptionals wer
Read more11 Aug 2015 05:14