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Paddy Power, Betfair post last separate results

Tue, 08th Mar 2016 08:16

(ShareCast News) - Paddy Power Betfair released the last of its results as two separate companies on Tuesday, with both bookmakers reporting admirable growth.The FTSE 250 company was formed by the merger of Paddy Power and Betfair, which was completed in February. As such, the results reflected Paddy Power's annual performance to 31 December 2015, and Betfair's third quarter results to 31 January.At Paddy Power, revenue grew 24% to €1.09bn (£0.84bn), with double digit growth across all online and retail divisions. Operating profit rose 10% to €180m, or 50% before €66m in new taxes and product fees.Paddy Power's diluted earnings per share were up 12% to 332.8 euro cents per share, with the full year dividend up 18% to 180 cents per share.There was also an additional €8 per share cash return during 2015.At Betfair, revenue rose 21% during the quarter to £138m, driven primarily by 51% growth in sportsbook stakes and improved football results.Its revenue in regulated markets was up 31%, following a 27% increase in the number of active customers.Betfair's EBITDA was up 10% to £26m, or 30% before £5m in new taxes."We were very pleased to complete the merger of Paddy Power and Betfair, creating one of the world's largest online betting and gaming companies with enlarged scale, enhanced capability and distinctive complementary brands," said chief executive of the combined company Breon Corcoran."These results show that both businesses entered this merger on the back of strong trading momentum," he added.Corcoran said the company's belief in the strong rationale for the deal had been strengthened in the early days as a combined operator.He said the merger of two industry leaders with aligned strategies and a strong cultural fit was hugely exciting, with the enhanced efficiency and scale meaning the firm was well-positioned to compete in new and existing markets."The integration of the two businesses is progressing well and we look forward to capitalising on the opportunity we have to drive future profitable growth," Corcoran concluded.
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4 Nov 2016 10:31

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4 Nov 2016 07:17

Merger synergies lead to positive third quarter at Paddy Power Betfair

(ShareCast News) - Paddy Power Betfair posted a trading update for the three months to 30 September on Friday, with revenue up 25% to £404m, or up 15% in constant currencies. The FTSE 100 bookmaker said that growth was driven by sports, including a strong conclusion to the Euro 2016 tournament, with

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18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

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31 Aug 2016 16:34

Wednesday broker round-up

(ShareCast News) - Halma: Jefferies reiterates buy with a target price of 1210p. G4S: UBS maintains buy with a 260p target. Bunzl: Barclays reiterates equal-weight with a 2450p target. Carclo: Finncap reiterates hold with a 150p target. Associated British Foods: Berenberg downgrades to hold with

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24 Aug 2016 07:44

Paddy Power Betfair speeds to interim gallop after slow start

(ShareCast News) - Maiden interim results from Paddy Power Betfair showed the merged bookmaker sped up to a gallop in the second quarter, with the online arm whipping profits higher. Revenue of £759m in the six months to 30 June rose 18% on a pro forma basis compared to the equivalent period last ye

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23 Aug 2016 18:43

Tuesday newspaper share tips: Liverpool FC, The Restaurant Group

(ShareCast News) - There are two types of football clubs in the English Premier League -- those that win silverware and those that don't, opines Financial Times' Lex column. Both types were expensive. The column cited Manchester United as a silverware winner, and Aston Villa and Liverpool Football

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23 Aug 2016 15:58

London close: Blue-chip miners, banks push FTSE higher as house builders fly

(ShareCast News) - London indices closed up thanks to heady gains among house builders after Persimmon posted robust first-half results, with miners, financials and supermarkets also on the up. While house builders dominated the top end of the blue-chip leaders' ladder, it was "miners and banks that

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12 Aug 2016 06:19

CORRECT: Restaurant Group Ousts CEO And Appoints Ex-Paddy Power Boss

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12 Aug 2016 06:07

TOP NEWS: Restaurant Group Ousts CEO And Appoints Ex-Paddy Power Boss

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20 Jul 2016 08:36

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19 May 2016 13:42

Thursday broker round-up

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19 May 2016 07:16

Thursday newspaper round-up: Pensions, Rolls-Royce, BHS

(ShareCast News) - The Bank of England's chief economist has admitted that the British pensions system is so complicated, even he fails to understand it, warning of the "damaging" consequences this presents for consumers as they approach retirement. Andy Haldane said he considered himself to be "mod

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18 May 2016 15:19

32% Of Paddy Power Betfair Shareholders Reject Remuneration Report

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