19 January 2011 – trading statement
A very upbeat trading statement from the betting and gaming company has been well received by the market with the shares moving well up on the previous day’s close of 176.7p. This is justified given the fact that pre-exceptional earnings before interest, tax and amortisation for 2010 are now expected to be around £275m (2009: £258.6m). This comes despite the fact that the poor weather had a huge impact on racing fixtures at the end of the year. Results are due out on 25 February and we feel that the share price should move above 200p in the near term, making the shares a BUY.