Updates

Playtech - Net cash: Eu 576m

November 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Playtech, which provides software for online gambling websites, soared to a new high of 746.5p and currently stand a useful 180p up from where we added them to the Trader Portfolio. This reflects results which came in ahead of forecasts with revenue rising 15% to almost Eu177m while stripping out the contribution from the William Hill online (WHO) business, which has been sold, net profit rose 11% to nearly Eu70m. Eps increased 10% to 23.9 cents while net cash, swelled by the WHO proceeds, stands at Eu 576m (H1 2012: Eu 139m) or 168p a share.Casino was the main driver with revenues up 26% to Eu90.3m while Sport jumped 90% to Eu9.1m and Bingo grew 65% to Eu9.3m. Poker declined 17% to Eu8m but should be booste ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Playtech - Net cash: Eu 576m

November 2013

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