11 Jan 2016 13:46
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Don't have an account? Click here to register.Ladbrokes given a boost by Berenberg upgrade
Fri, 26th Aug 2016 08:46
(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech.The broker said since it initiated on Ladbrokes a number of positives have materialised with first half results beating expectations, the merger with Coral receiving approval and Boylesports proposing to buy around 360 shops to be disposed."We expect Coral to report strong numbers on 31 August, earnings momentum to continue; we therefore revisit our numbers and upgrade the stock to 'buy'.""The stock is up (c15% in one month), but it is not too late to join the rally."Earlier this month, Ladbrokes reported a 13.1% rise in first half revenue to £661.8m and a 61% increase in pre-tax profit to 339.8m, supported by favourable sporting results and a higher number of placed bets.Group revenue was driven growth in its online division, where revenues rose 41% to £158m. Berenberg expects Coral's third quarter results will show trends "at least as good as in its previous quarter" with a 9% year-on-year rise in revenues."We have therefore increased our estimates for both companies, which has resulted in 15% higher earnings per share 2017-2018E for the combined entity."Shares climbed 2.74% to 161.20p at 0940 BST.
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7 Jan 2016 10:49
Thursday newspaper share tips: Falling oil prices threaten BHP Billiton's strategy
(ShareCast News) - Falling oil prices are threatening BHP Billiton's strategy to diversify into oil and gas, The Telegraph's Questor wrote on Thursday. Oil prices have been plummeting amid geopolitical flare-ups in the Middle East and oversupply concerns continuing to dominate market sentiment. Que
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11 Dec 2015 07:21
Ladbrokes announces acting CFO to cover ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed Richard Snow as acting chief financial officer. The FTSE 250 company announced in September that Ian Bull who currently holds the post, will leave the company in February. Snow, who is director of investor relations, will hold the post until the proposed m
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London pre-open: Stocks seen lower on negative Asian cues
(ShareCast News) - London stocks are called to open lower on Friday, taking their cue from a downbeat session in Asia. Shares in China and Hong Kong slid as the yuan hit its lowest level in four years. The FTSE 100 is expected to open 21 points lower than Thursday's close at 6,067. On the data fro
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Ladbrokes' new chair and director bet on company
(ShareCast News) - Ladbrokes' new chariman and newest board member are already giving their financial backing to the company. John Kelly was appointed chairman of the company at the beginning of December, replacing Peter Erskine who announced his intention to step down in May. He will also become c
Read more4 Dec 2015 07:43
Ladbrokes appoints John Kelly as chairman ahead of Coral merger
(ShareCast News) - Ladbrokes has appointed John Kelly as the bookmaker's new chairman with immediate effect following the departure of Peter Erskine and ahead of the proposed merger with Coral Group. The appointment follows the announcement in May that Erskine intended to step down from the board th
Read more30 Nov 2015 08:23
Gala Coral revenue up ahead of Ladbrokes merger
(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 FI
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