20 May 2016 09:35
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Don't have an account? Click here to register.Ladbrokes lifted by Gala Coral results ahead of merger
Thu, 20th Aug 2015 08:07
(ShareCast News) - Ladbrokes has reported mixed results from Gala Coral Group, with which it is in the process of merging, with weakness at its retail and Italy-focused Eurobet arms but overall profits growth lifted by strong online performance.Total continuing group earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8% to £65.7m, with the impact of an additional net £12.9m of tax and regulatory costs and tough comparison with a World Cup-boosted quarter last year.Coral's retail EBITDA was down 2% on the comparable year to £34.9m, with Eurobet particularly affected by the World Cup comparison with EBITDA down 30% to £3.7m.However, online earnings were up 28% to £17.1m.Gala retail, which is not merging with Ladbrokes, increased EBITDA 3.7% to £11.9m.Ahead of the proposed merger between Coral and Ladbrokes being put to the FTSE 250 group's shareholders, Coral chief executive Carl Leaver said the parties had "already opened dialogue" with the Competition and Markets Authority about the deal.He added that ignoring the tax and regulatory changes and the World Cup, underlying EBITDA was £22.6m or 52% ahead."This continued positive momentum is a direct result of our focus on product innovation and a disciplined approach to marketing, together with the significant capital investment made across the business over the last few years."Shares in Ladbrokes were up 2.3% to 107.7p by 0845 BST.
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20 May 2016 08:47
REFILE-Britain's FTSE led higher by Coca-Cola HBC and miners
(Refiles to fix spelling in headline) * FTSE 100 up 1.5 pct * Coco-Cola HBC rises after upgrade * Miners up as metals prices firm * Ladbrokes gains after competition regulator decision By Kit Rees LONDON, May 20 (Reuters) - UK shares rose on Friday, set for the
Read more20 May 2016 07:31
London pre-open: Stocks set to rebound from Fed-fuelled losses
(ShareCast News) - London stocks were expected to open in the black on Friday, bouncing back from the Fed-fuelled losses of the previous session. The FTSE 100 was seen starting 57 points higher than Thursday's close at 6,110. "While US markets did finish the day lower yesterday they did at least ma
Read more20 May 2016 07:12
Market relieved by provisional CMA Ladbrokes-Coral findings
(ShareCast News) - Investors were seemingly pleased with the provisional findings of the Competition and Markets Authority into the merger between bookmakers Ladbrokes and Gala Coral, with a smaller number of outlets needed to be sold than anticipated. Shares in Ladbrokes were surging in morning tra
Read more20 May 2016 06:22
Ladbrokes, Coral need to sell shops to win deal clearance - CMA
LONDON, May 20 (Reuters) - Bookmakers Ladbrokes and Gala Coral will have to sell between 350 and 400 shops to win clearance for their merger, the British competition regulator said on Friday. In the provisional findings of a review of the deal, the Competition and Markets Authority said a t
Read more16 May 2016 06:39
Monday newspaper round-up: Ladbrokes-Coral, BHS, G4S, Sky
(ShareCast News) - The merger between Ladbrokes and Coral could be blocked, analysts have suggested, citing the blocking last week of the proposed merger between O2 and Three by Europe's competition commission on the ground that it would have cut the number of big players from four to three, an argu
Read more15 May 2016 17:01
Sunday newspaper round-up: RBS, Shell, Cobham, BT, banks
(ShareCast News) - Royal Bank of Scotland is examining a range of radical options to help speed the long-delayed separation and flotation of its Williams & Glyn subsidiary, including a potential divestment of its NatWest brand. Banking sources have indicated to the Sunday Telegraph that RBS and its
Read more28 Apr 2016 15:00