GVC reported FY 19 sales growth of 3%, thanks to strong momentum in online (+13%), a decent showing in European retail (+5%) and a slower than expected decline in UK retail (machine revenue down 26% vs initial expectations of over -40%). Pro forma EBITDA margin was down 10%, hurt by regulatory headwinds across multiple geographies. The company announced a final dividend of 17.6p/share. Following the FY 19 performance, we do not expect any significant revisions in our estimates.
06 Mar 2020
Strong FY19; good start to FY20
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Strong FY19; good start to FY20
Entain PLC (ENT:LON) | 796 0 0.0% | Mkt Cap: 5,083m
- Published:
06 Mar 2020 -
Author:
Virendra Chauhan -
Pages:
4
GVC reported FY 19 sales growth of 3%, thanks to strong momentum in online (+13%), a decent showing in European retail (+5%) and a slower than expected decline in UK retail (machine revenue down 26% vs initial expectations of over -40%). Pro forma EBITDA margin was down 10%, hurt by regulatory headwinds across multiple geographies. The company announced a final dividend of 17.6p/share. Following the FY 19 performance, we do not expect any significant revisions in our estimates.