24 February 2012 – final results

The bookmaking group has announced results in line with expectations for the year to 27 December 2011.  Net revenues rose 6% to £1.14bn and pre-tax profits before exceptional charges were 9% higher at £239.4m.  Earnings per share on the same basis rose by 12% to 24.2p and the total dividend for the year was increased by 16% to 9.6p.  These were pretty good results considering that the group suffered from an increase of £9m in VAT payments and there was no major football tournament during the year.  Clearly 2012 will benefit from Euro 2012 as well as the Olympic Games and a confident statement from the company regarding this year’s prospects leads us to maintain our stance of LONG TERM BUY.