Unfavourable sports results and group development costs impact Fortuna Q1 2017 profits

admin xeoncrkunqtd , , , , , , , , , , ,

first_img Related Articles Submit Share StumbleUpon Polish wagering report highlights STS market dominance  August 17, 2020 Fortuna completes Playtech IMS upgrade for Polish profile May 7, 2020 SBC Digital Summit: A crash course in adaptability and resilience  April 27, 2020 Unfavourable sporting results combined with higher operational costs have impacted Eastern European gambling operator Fortuna Entertainment Group Q1 2017 performance.Updating investors Fortuna governance would detail ‘robust’ set of metrics during the period as the company recorded a total group wagering of €302 million up 20% on corresponding 2016 performance.Closing the period, Fortuna would further report a Gross Win of €42.2 million (up 12% on Q1 2016), with the company highlighting its online sports betting division which contributed €28.3 million of Gross Win.However, the firms 2017 opening performance would be severely impacted by negative sports results recorded in February and March which would impact operating margins, as Fortuna recorded a group EBITDA of €3 million (-36% on Q1 2016)Fortuna governance informs that the company had made significant investments within its internal operations upgrading its data feed, live streaming capabilities, IT systems and resources.Further costs have been attributed to period M&A costs as Fortuna governance acquired Hattrick Sports assets (deal undisclosed) and Fortbet Romanian (deal €47 million) properties during the period. Per Widerström, CEO of Fortuna Entertainment Group commented on Q1 2017 performance“In the first quarter of 2017, the Company continued to deliver robust growth in Amounts Staked and we accepted total bets in the amount of EUR 302.2 million, which is 20.1% more than last year. The Amounts Staked grew double digits in all our key markets, primarily driven by the online betting growth and in particular mobile sports betting while retail grew low single digit.“We also recorded in this quarter the first bets from the recently launched online casino in the Czech Republic of which we started as the first regulated operator at the end of February. Our operating profitability measured by EBITDA was impacted by lower margins due to unfavourable sports results across all markets and the planned increase of operating costs in connection with building operational excellence and CEE expansion,” Sharelast_img

You May Also Like..

3 FTSE 100 double-digit dividend-paying stocks I think Buffett would love now

first_img Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Anna Sokolidou | Saturday, 21st March, 2020 3 FTSE 100 double-digit dividend-paying stocks I think Buffett would love now Image source: Getty Images. See all posts by Anna Sokolidou I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee.center_img Anna Sokolidou does not hold shares of any of the companies mentioned in this article. The Motley Fool UK has recommended Barclays, HSBC Holdings, and Lloyds Banking Group. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! “This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address “Be greedy when others are fearful. Be fearful when others are greedy”. This is what the Oracle of Omaha once famously said to his shareholders.Buffett’s investmentShortly after the Lehman Brothers’ collapse Buffett bought top blue-chip securities, including those of Goldman Sachs and Bank of America.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…That time was really tough for banks, and many were close to going bankrupt. Central banks all over the world cut interest rates, to zero in some cases. Governments bailed out major banks and took extreme fiscal measures to save their national economies.Buffett’s investment paid off very nicely. He took advantage of the panic and bought ‘too big to fail’ banks at record low prices. Bank of America’s shares became almost 10 times more expensive since the Great Recession. Goldman Sachs’s stock appreciated more than five times.Crisis causesThe causes of the 2008–2009 crisis were totally different from today’s market sell-off.The main reasons were the mortgage crisis and the reckless investment methods banks, insurance companies, and hedge funds were using. There were very high levels of personal and corporate debt. Moreover, many investment companies clearly lacked proper diversification.The situation in the US had a dramatic effect on other countries, including the UK. This was due to many financial organisations having exposure to high-risk US mortgage-backed securities.   Today’s market panicToday, we find ourselves in a similar panic situation, although the causes of this sell-off are different. Shares of major banks have plunged. The UK government announced a £330bn support package for small businesses and said that it is prepared “to do whatever it takes”.The Bank of England also announced that it would provide commercial banks with £190bn in extra money to ensure they have sufficient liquidity and are able to support small businesses.The share prices of the banks I will mention below reacted positively after this decision was announced. However, they quickly erased all their gains, as coronavirus panic and a no-deal Brexit fears hang in the air. Nonetheless, the Bank of England’s willingness to support the financial sector is encouraging.Top banksI think the banks mentioned below have merit as investments, despite the current difficult situation, because they are sure to survive:Lloyds’ recent earnings were a bit discouraging. But this resulted from one-off charges relating to payment protection insurance. The bank has been aggressively cutting costs by closing some offices, reducing staff, and encouraging customers to access the banks’ services online. These measures, of course, will also help during this coronavirus crisis.The bank’s price-to-earnings ratio (P/E) is near a record low of 8. The dividend yield is now close to 10%, and the share price is hovering near a 52-week low.HSBC came up with a restructuring plan and recently appointed a new CEO of its business in China. The bank’s earnings decreased by more than 50% in 2019 compared to the year before. However, the P/E is almost 17 and the dividend of 50 GBX is not adequately covered by 2019 earnings of 30 GBX per share.Barclays is the only one of the three whose earnings increased between 2018 and 2019. EPS (earnings per share) rose from 21.9 to 24.4 GBX, making the P/E ratio a little bit over 3. The current dividend yield is 12%. The bank considers its cost-cutting initiative to be its top priority. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.last_img

The Standard Life share price is up 34% in 6 months. Should I buy now?

first_img Enter Your Email Address UK stocks have taken a hit over the last year with the impact of the pandemic, but many have recovered recently as part of a stock market rally. Whether this rally can be sustained or is part of a bubble is up for debate, but I still see opportunities in the market at the moment.During turbulent times, I tend to look towards companies with a long and stable history of weathering difficult economic conditions. There are few in the FTSE 100 that have been around as long as Standard Life Aberdeen (LSE:SLA).5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…The Standard Life share price is now 34% higher than it was six months ago. While the shares have only gained 1% in 12 months, given the overall state of the Footsie during that time the shares’ performance is better than average.So would I buy Standard Life shares today for my portfolio?Strong and stableStandard Life has been around a long time. The company was first founded in 1825 and provides asset management, insurance, and savings services to both individuals and corporate bodies.Historically speaking, the company has not provided great long-term returns for investors. The share price has returned a loss over the last five years despite its recent rally. Investors don’t seem to have been convinced by the 2017 merger between Standard Life and Aberdeen Asset Management.Costs and competition have both been rising over the last number of years, which haven’t exactly helped the company’s bottom line. Profits for the company’s first half last year were 30% lower than the year before.So what has been driving the Standard Life share price higher in recent months?Broker actionOne reason could be that analysts at both JP Morgan and Berenberg upgraded their broker recommendations for the company. JP Morgan said there were several opportunities to close the ‘value gap’ between Standard Life and its competitors, including a reduction in dividends. The company currently has one of the highest dividend yields in the FTSE 100 at roughly 7%.Berenberg analysts also recommended a dividend cut so the company can focus on earnings growth, while upgrading the stock to ‘buy’ from ‘hold’.Important decisions will need to be made by new CEO Stephen Bird. Standard Life clearly needs to focus more on growth, but cutting the dividend could put off potential investors as well. How the new management deals with that dilemma will have an impact on the share price going forward.There is the potential for mergers and acquisitions to fuel growth, and management has indicated that it will consider this option.That said, I will need more convincing of the company’s ability to drive the share price higher in the long term. A key metric for Standard Life is assets under management, which has been falling for some time. Its most recent earnings report had their assets under management at £511bn.Until this heads in the right direction I won’t be buying the Standard Life share price for my portfolio. The Standard Life share price is up 34% in 6 months. Should I buy now? conorcoyle has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares Simply click below to discover how you can take advantage of this. Get the full details on this £5 stock now – while your report is free. Conor Coyle | Wednesday, 17th February, 2021 | More on: SLA center_img I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. See all posts by Conor Coyle Image source: Getty Images FREE REPORT: Why this £5 stock could be set to surge Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment.last_img

On this Day: Video killed the radio star

first_img Please enter your comment! On this day in history: August 1st, 1981From The History Channel  TAGSHistory ChannelMusic Television Previous articleBlue Darter takes 2nd at Bowling NationalsNext articleApopka Bowling Team Wins National Title Denise Connell RELATED ARTICLESMORE FROM AUTHOR LEAVE A REPLY Cancel reply UF/IFAS in Apopka will temporarily house District staff; saves almost $400,000 Share on Facebook Tweet on Twitter You have entered an incorrect email address! Please enter your email address herecenter_img Gov. DeSantis says new moment-of-silence law in public schools protects religious freedom  “If advertisers make the video disco channel a success, the implications for cable television and the recording industry could be far reaching,” wrote a New York Times business columnist in the summer of 1981 about the upcoming premiere of a new cable television network dedicated exclusively to popular music. This prediction proved to be an understatement of historic proportions, though not exactly overnight.Though the premiere of MTV on this day in 1981 would later be seen as the beginning of a whole new era in popular culture, only a few thousand night-owl subscribers to a single northern New Jersey cable system were able to witness the televised revolution.It was just after midnight in the early morning hours of August 1, 1981, that the fledgling Music Television network flickered to life. “Ladies and gentlemen, rock and roll” were the words that preceded on opening montage featuring a chunky guitar riff playing over the familiar image of an American astronaut planting an unfamiliar flag on the surface of the moon—a flag emblazoned with a big, block capital “M” and the smaller, handwritten letters “TV.”The video that followed was, famously and prophetically, “Video Killed The Radio Star” by the little-known English electronic new wave duo, the Buggles. Pat Benatar’s “You Better Run” followed, and from there a rotation that featured several songs and videos that might be considered classics of the early MTV era (e.g., “Rapture” by Blondie and “Love Stinks” by the J. Geils Band) and many more that might not (e.g., “Can’t Happen Here” by Rainbow and “Little Susie’s On The Up” by PhD).The roughly 80 different videos that made up that first week’s rotation on MTV probably represented nearly every promotional music video then available. This would change, of course, as MTV proved its ability to break new artists and as record labels responded with ever larger budgets for lavish video productions. But on that first night, as several employees of the fledgling MTV gathered to watch their creation in a New Jersey bar, it is impossible to say how many others actually joined them.Soon enough, however, MTV would spread to cable systems nationwide and begin to exert the cultural influence that has since been credited (or blamed) for everything from Flashdance and Miami Vice to Rick Astley and Attention Deficit Disorder.For more on this day in history, go here. Please enter your name here Florida gas prices jump 12 cents; most expensive since 2014 Save my name, email, and website in this browser for the next time I comment.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *