SBC News Gala Coral 'expects Q4 profits increase of 20%'

Gala Coral ‘expects Q4 profits increase of 20%’

coralbettingshopGala Coral has released its preliminary unaudited 2014 Q4 and full year performance results (period ending 27 September).

The operator recorded an increased Q4 2014 revenues of £288.3 million up 21% on Q4 2013 £238.6 million.  Increased gaming revenues were supported by improved Q4 gross profits of £211.7 million up 20% on Q4 £175.8 million.

Gala Coral expects to post a Q3 EBITDA performance of £51.7 million up 55% on Q3 £33.3 million. The operator stated that it had seen an improved performance on all key product verticals for Gala Coral operations

Reporting on its expected full year 2014 performance Gala Coral reported that all core businesses had recorded growth in gross profit and underlying EBITDA . The operator expects Corporate 2014 Gross profit of £890.1m was £74.7m or 9% ahead of last year and EBITDA of £235.5m was £29.8m or 14% ahead.

The operator outlined that it adjusted performance for the adverse impacts of extraordinarily poor football results in the first half of the year (£19.7m), the annualisation of MGD (£3.9m), and the favourable impacts of both the World Cup (£9.4m) and the reduction in bingo duty to 10% (£3.2m), underlying EBITDA is expected to increase by £40.8m or 20%, whilst underlying EBITDA pre-bonus was £55.9m or 27% ahead.

Further details of the Group’s performance will be released on Thursday 20th November including the audited financial statements for the full year.

Gala Coral Preliminary Unaudited Q4 and 2014 full year results

galacoral

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