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Блог им. JanetteCambaPaddy Power Shares Slump On Results
Paddy Power shares plunge on results
Shares in Paddy Power Betfair have actually fallen by about 5% after the bookmaker unveiled frustrating first-quarter results.
The business's underlying operating earnings fell to ₤ 80m, compared with ₤ 91m for the same duration in 2017.
It blamed bad weather condition in March for lower incomes from horseracing after 14% of UK and Irish races were cancelled.<img src=«https://www.yohaig.ng/wp-content/uploads/2023/04/bet9ja-cash-out-no-more-spoiled-tickets-728x90-1.gif»/ width=«728» height=«90» alt=«Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus» title=«Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus» loading=«lazy»>
New betting taxes and start-up losses in the US likewise took their toll.
The firm stated it was planning to return ₤ 350m of cash to shareholders in the next 12 to 18 months, with a share buyback programme to be started soon.
Paddy Power Betfair opened three new stores in the UK and 2 in Ireland throughout the quarter, taking its overall to 631.
'Good development'
The business said group income was down 2% at ₤ 408m for the quarter,
Growth in football wagering was offset by «weakness in horseracing, which was negatively impacted by the high level of weather-related cancellations».
It anticipates full-year earnings to come in at between ₤ 470m and ₤ 485m.
«We have made great development against our strategic top priorities,» said president Peter Jackson.
«In Europe, the successful completion of our platform integration has actually resulted in a significant improvement to the Paddy Power item.
»In Australia, Sportsbet continues to perform well and is targeting more market share growth."
"Weather is a big element in our market and the terrible start to this year has actually affected numerous organizations, not simply the bookies. It is not surprising that profits have actually plunged, however the yohaig code genuine test will be through the spring and summer season," stated Andy Bell from Bettingodds.com, external.
Betting company 'failed problem bettors'
2 May 2018
Bookies look for betting maker reprieve
29 April 2018
Shares in Paddy Power Betfair have actually fallen by about 5% after the bookmaker unveiled frustrating first-quarter results.
The business's underlying operating earnings fell to ₤ 80m, compared with ₤ 91m for the same duration in 2017.
It blamed bad weather condition in March for lower incomes from horseracing after 14% of UK and Irish races were cancelled.<img src=«https://www.yohaig.ng/wp-content/uploads/2023/04/bet9ja-cash-out-no-more-spoiled-tickets-728x90-1.gif»/ width=«728» height=«90» alt=«Register at Bet9ja using the promotion code YOHAIG for a N100,000 welcome bonus» title=«Use promotion code YOHAIG when registering at Bet9ja to claim your N100,000 bonus» loading=«lazy»>
New betting taxes and start-up losses in the US likewise took their toll.
The firm stated it was planning to return ₤ 350m of cash to shareholders in the next 12 to 18 months, with a share buyback programme to be started soon.
Paddy Power Betfair opened three new stores in the UK and 2 in Ireland throughout the quarter, taking its overall to 631.
'Good development'
The business said group income was down 2% at ₤ 408m for the quarter,
Growth in football wagering was offset by «weakness in horseracing, which was negatively impacted by the high level of weather-related cancellations».
It anticipates full-year earnings to come in at between ₤ 470m and ₤ 485m.
«We have made great development against our strategic top priorities,» said president Peter Jackson.
«In Europe, the successful completion of our platform integration has actually resulted in a significant improvement to the Paddy Power item.
»In Australia, Sportsbet continues to perform well and is targeting more market share growth."
"Weather is a big element in our market and the terrible start to this year has actually affected numerous organizations, not simply the bookies. It is not surprising that profits have actually plunged, however the yohaig code genuine test will be through the spring and summer season," stated Andy Bell from Bettingodds.com, external.
Betting company 'failed problem bettors'
2 May 2018
Bookies look for betting maker reprieve
29 April 2018
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