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Trading statements

GVC confident of strong full-year progress

06 July 2017 08:13

Multinational sports betting and gaming group GVC Holdings saw positive momentum across its core businesses in the six months to the end of June.

It said group NGR for the first six months rose 10% to €484.8m (+11% in constant currency) versus pro forma 2016.

It said the disposal of Kalixa was completed on 31 May and during the first half contributed revenues of €6.1m against €7.6m for pro forma H1 2016. Other key highlights included:

- H1 2017 group daily NGR up 10% (+12% constant currency) vs pro forma H1 2016

- Q2 2017 group daily NGR up 8% (+10% in constant currency) vs Q2 2016

- Q2 2017 underlying group daily NGR up 15% vs Q2 2016 (excluding Euro 2016 revenues)

Chief executive Kenneth Alexander said: "The group continues to perform well with positive momentum across our core businesses.

"Achieving Q2 constant currency NGR growth of 10% in the absence of a major football tournament is particularly pleasing.

"As demonstrated at our recent capital markets day, the organic opportunity is significant, whilst we are also well positioned to pursue further acquisition opportunities should they arise.

"This combined with an increase in marketing investment in the second half to more normalised levels gives the board confidence of GVC delivering another year of strong progress."

At 8:13am: (LON:GVC) GVC Holdings Plc share price was +1.5p at 771.5p

Story provided by StockMarketWire.com

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