BOTB has announced a change to its tax regime, such that the company now expects to pay Remote Gaming Duty (RGD). As such, we update our forecasts accordingly – EBITDA reduces by £0.3m to £1.5m in FY18E and by £0.6m to £1.3m in FY19E. Despite this unfortunate news, we stress that trading should continue as normal (existing underlying forecasts are essentially unchanged) and BOTB should remain a profitable and cash-generative business. Indeed, the short-term posit

13 Dec 2017
Tax change to dent profit, but n/c to trading

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Tax change to dent profit, but n/c to trading
Best of the Best plc (BOTB:LON) | 0 0 0.0% | Mkt Cap: 44.8m
- Published:
13 Dec 2017 -
Author:
Cavendish Research -
Pages:
5 -
BOTB has announced a change to its tax regime, such that the company now expects to pay Remote Gaming Duty (RGD). As such, we update our forecasts accordingly – EBITDA reduces by £0.3m to £1.5m in FY18E and by £0.6m to £1.3m in FY19E. Despite this unfortunate news, we stress that trading should continue as normal (existing underlying forecasts are essentially unchanged) and BOTB should remain a profitable and cash-generative business. Indeed, the short-term posit