Group turnover for the year ended 31 May 2016 was US$ 224.3 million (2015: US$154.4 million) - a growth of over 45% on continuing operations. Gross Profit decreased by 3.3% to US$ 4.1 million (2015: US$4.2 million), reflecting the cost of remaining competitive. This trend led to a reduction in overall gross margin to 1.8% (2015: 2.7%)
45% increase on turnover and cash held at around 6 million IMO future is bright, predator in this sector could be tempted.
For consideration at the Dec. 13 KHRC meeting, the Pari-Mutuel Committee recommended licensure of eight ADW companies, including two newcomers in NewCo Ventures (which operates as NYRABets.com) and Watch and Wager. NYRA Bets had initially allowed only New York customers but this year launched nationally. Watch and Wager is a subsidiary of Webis Holdings, which is publically traded on the London Stock Exchange. Since 2012, Watch and Wager has operated the Cal Expo Harness Racing meet.
Looking at the chart it seems like "sell in May) is at play here. As for volatility, that seem to be ironed out for now. Sill, if we're earning in USD then we'll get better returns for sure with the current exchange rate.
I'm continuing to hold, waiting for good times ahead.
Luck all, TP
Ladbrokes is up on the proposed merger with Coral
Personally I think there two types of shop we have far too many of in the Uk. Betting shops and Charity Shops. You see precincts where there are three betting shops all under half empty.
Yes it will result in closures and loss of jobs but also greater efficiency for the remaining shops. The average age of those using betting shops is creeping up!
As for Webis - They specialise in the track experience rather than retired men spending an afternoon pretending they know about horse racing.
Trading volumes are likely to come off until financial results are presented or the price might spike with new deals being made.
I bought at 1.35 and saw this as a very good entry point. Personally I think it's the longer term picture that needs looking at - The business is very focused and has high profile clients needed to generate a revenue stream. I would look at how low could they go and cannot see sub 1p anytime soon barring disaster.
You could pick some up at 1.50 as a small holding in a diverse portfolio and hold for 2 years
The spread is too big to worry about the 6 month window.
My price forecast for 6 months is 2p - but WTFDIK and DYOR
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