WMH produced a strong 4Q17 where a run of sporting results were favourable. Management guiding operating profits at c. £290m for FY17. We bring our FY17E estimates in line, with changes mainly to online GW margin and some adjustment to retail sports GW margin.
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| Strong FY17, but expect Retail & Australian drag
- Published:
16 Jan 2018 -
Author:
Michael Campbell -
Pages:
7
WMH produced a strong 4Q17 where a run of sporting results were favourable. Management guiding operating profits at c. £290m for FY17. We bring our FY17E estimates in line, with changes mainly to online GW margin and some adjustment to retail sports GW margin.