logo-loader

Punters betting on a win for 32 Red

Gaming group has already reported first-half net gaming revenue of £30.4mln

Roulette wheel
Numis Securities reckons 32Red's first-half earnings will quadruple to £4.6mln

City punters are betting on a winning performance from 32 Red Plc (LON:TTR) when the gaming company reports half-year results on Wednesday.

The group has already reported net gaming revenue of £30.4mln for the first half, representing year-on-year growth of 63%.

Numis Securities reckons first-half earnings will quadruple to £4.6mln driven by excellent returns from its accelerating marketing campaign.

Analyst Richard Stuber said: “Being one of the few approved betting partners for UK horseracing, it has secured several high profile sponsorship deals, including Leeds United and Rangers and most recently the three year deal to sponsor the King George VI Chase, demonstrating its growth ambitions.

“We are also very supportive of its geographical diversification where more than a third of revenues are from outside the UK.”

Insurer and over-50s tour operator Saga PLC (LON:SAGA) is also set to report half-year results and investors are set to focus on the resilience of the group’s travel business, among other issues..

Analysts at Peel Hunt, who are advising investors to buy the stock, expect underlying earnings to drop 4% to £125mln against a consensus of £129mln, driven by lower motor earnings.

“We estimate pre-tax profit of £97mln (-4% y/y) versus £100mln consensus, and £78mln net profit versus £80mln consensus,” they said in a note.

Other companies reporting include:

Finals: Brooks Macdonald, DX Group;

Interims: NAHL Group, Sinclair Pharma;

AGMs: Diageo, IG Group, Northgate, Pan African Resources.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Highfield Resources advancing flagship potash project towards construction phase

Highfield Resources Ltd's (ASX:HFR) Peter Albert updates Proactive Lonodn's Andrew Scott on latest developments at its flagship Muga Potash Project in Spain. Muga’s ore reserve now consists of 108.7 million tonnes of proved and probable reserves at 10.2% potash for a 27-year life of...

13 hours, 53 minutes ago

2 min read