Gala Coral releases prelims

The UK land and online gambling operator Gala Coral has posted a credible set of preliminary results covering the 12 months to end September this year and highlighting:

* Full-year turnover up 14 percent at GBP 1.2 billion up 14% on a year-on-year basis;

* Gross profit up 9 percent to GBP 890.1 million;

* Group EBITDA up 7 percent to GBP 263.9 million.

The company’s fourth quarterly ended September 27 2014 saw the achievement of impressive growth compared to the same period last year:

* Gross profit up 20 percent to GBP 211.7 million;

* Turnover up 21 percent to GBP 288.3 million;

* Group EBITDA remarkably up 47 percent to GBP 58.2 million.

In a statement, Management reported: “All core businesses recorded gross profit and underlying EBITDA growth during the year.

“Gross profit of GBP 890.1 million was GBP 74.7 million or 9 percent ahead of last year and Opco EBITDA of GBP 235.5 million was GBP 29.8 million or 14 percent ahead.

“After adjusting for the adverse impacts of extraordinarily poor football results in the first half of the year, the annualisation of MGD and the favourable impacts of both the World Cup and the reduction in bingo duty to 10 percent, underlying EBITDA increased by GBP 40.8 million or 20 percent, whilst underlying EBITDA pre-bonus was GBP 55.9 million or 27 percent ahead.”

The company is scheduled to release full performance details next week.

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