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32Red

November 2016

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.

  • Epic Code:
  • TTR
  • Price:
  • 132p
32Red had preannounced H1 record NGR of £30.4m in its update (see September SCSW) so no real surprises with results. This was growth of 63% on H1 15’s  £18.6m including a first time contribution from Roxy and near elimination of £1m of losses in Italy. Pretax profit was £2.5m for eps of 2.8p. Margins improved from 8.2% to 13.6%, demonstrating operating leverage driven by its accelerated marketing spend and an improvement in Italy. As with other operators, mobile became the most important channel and accounted for 50% of casino revenues in H1 16.  NGR for the first eleven weeks of H2 is up 4% like-for-like against last year’s strong comparisons and up 9% including the contribution from R ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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