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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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21 Apr 2016 07:34

London pre-open: Stocks seen higher as investors eye UK retail sales

(ShareCast News) - London stocks were expected to open in the black on Thursday, taking their cue from positive US and Asian sessions as oil prices edged higher. The FTSE 100 was seen starting 12 points higher than Wednesday's close at 6,422. Investors in the UK will eye the release of retail sales

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21 Apr 2016 07:05

Ladbrokes gets off to a flier in first quarter

(ShareCast News) - Unlike some of its rivals, Ladbrokes got off to a flier in the first quarter, with encouraging sales growth indicating new chief executive Jim Mullen's turnaround plan is working but also helped by a tailwind of favourable sporting results. As the bookmaker refurbished 73 betting

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21 Apr 2016 07:02

Ladbrokes Net Revenue Up In Quarter Despite "Worst" Ever Cheltenham

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20 Apr 2016 14:30

Credit Suisse starts Paddy Power Betfair at 'underperform'

(ShareCast News) - Credit Suisse initiated coverage of Paddy Power Betfair at 'underperform' with a 8,650p price target, saying the merger benefits were being overplayed, with the cost synergies and scale failing to justify the share price. "We feel that cost synergies alone are a poor rationale for

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17 Apr 2016 16:53

Sunday newspaper round-up: AstraZeneca, Monarch Airlines, HSBC, Opec deal

(ShareCast News) - AstraZeneca has held talks with US-based rival Medivation that could see it make a $10bn (£7bn) takeover bid, where it will battle France's Sanofi, which had a bid rejected last week, and others. Although oncology drug maker Medivation has been criticised for "price gouging" by Am

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14 Apr 2016 15:10

Earnings, Trading Statements Calendar - Week Ahead

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5 Apr 2016 08:32

BROKER RATINGS SUMMARY: Liberum Upgrades Babcock To Hold From Sell

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3 Apr 2016 16:33

Sunday newspaper round-up: Interest rates, Tata, Premier Foods, G4S, Centrica

(ShareCast News) - The Bank of England will hold interest rates at their current historic low for three more years, according to the market's current predictions. Judging by the overnight deposit rates that banks are charged to hold their cash at the central bank, which indicates market predictions

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30 Mar 2016 08:41

BROKER RATINGS SUMMARY: Jefferies Adjusts Ratings On Retailers

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23 Mar 2016 17:17

LONDON MARKET CLOSE: US Crude Build-Up Weighs On Oil Prices And Stocks

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23 Mar 2016 14:37

UPDATE 2-William Hill warns on full-year profit, shares slump

* Cites regulatory changes and Cheltenham festival * Online profit seen falling by up to 25 mln stg * Shares down 11 pct (Adds CEO, analyst comments, detail) By Aastha Agnihotri March 23 (Reuters) - British bookmaker William Hill warned on full-year profit on Wednesday,

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23 Mar 2016 12:09

LONDON MARKET MIDDAY: Betting Stocks Back Of The Pack In Flat Trade

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23 Mar 2016 10:34

WINNERS & LOSERS SUMMARY: William Hill Warning Drags Down Bookmakers

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23 Mar 2016 08:40

LONDON MARKET OPEN: Kingfisher And Sky Lead Firm FTSE 100

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21 Mar 2016 09:38

BROKER RATINGS SUMMARY: Goldman Sachs Starts Ascential With Buy Rating

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