888 Holdings Forecasts Strong Earnings: Shares Rise 5 Percent
Shares in 888 Holdings rose 5 percent Wednesday on news that it was expecting a significant surge in interim earnings.
Little additional information was provided by the FTSE 250 company other that saying “continued to deliver a very strong performance and anticipates announcing ebitda for the period significantly ahead of the comparable period in the prior year”.
Additionally, the company stated that full-year results would be dependent on trading during the second half, its board continued to “look forward with confidence”.
House brokers Numis also upgraded their forecast for 888 Holdings, the Financial Times of London reported:
Numis said in a note it appeared the “strong across-the-board trading” reported by the company in the first quarter of this year continued into the second quarter and that it had upgraded its 2014 full-year estimate for earnings per share by 8 per cent. It reiterated its “buy rating”, saying 888 had “demonstrated how its operational excellence converts into bottom line success”.
Numis also forecast the UK “point of consumption” tax – which was expected to hit the profits of online gambling groups if it came into effect from this December – would not be “introduced at the planned time and rate”.
- Aaron Goldstein, Gambling911.com
