Tag: results
Betfair results send share price rocketing
Betfair announced a glowing set of results this morning: –
https://corporate.betfair.com/media/press-releases/2015/05-03-2015.aspx
Since Breon Corcoran came to power we have seen a shift from the exchange very much to the sportsbook on Betfair and it seems to be working, for them. I haven’t seen any advertising for the exchange for probably two years now. The rationale for this is that it’s easier to get customers onto the sportbook. Number of active customers are up 35% to 760,000, so that is true!…
Ghost of Christmas past
One thing I’ve always been very good at is keeping records, I’d recommend it. You can look back and recall what you did previously and improve on it. Or just use it as a point of reference. I tend to archive a lot of trading records and make notes against them so I can remember how the markets traded, what I did and what I was thinking.
I was browsing my records from previous years this evening and came across …
Key points from Betfair results
Top line numbers
- Revenue up 5%. Underlying earnings growth is difficult to asses because of previous adjustments, so I wont attempt to interpret that.
- Underlying exchange revenue was +1%, but bear in mind there have been a range of price rises so this hints at declining underlying business. The sportsbook has gained £2m in revenue over the past year, the exchange £400k and Betfair US is up £2m, still quite small in the scheme of things but growing much faster.
Betfair Q3 results
Betfair announced their Q3 results this morning. Basically flat overall, you can read the full announcement here: –
https://corporate.betfair.com/media/press-releases/2013/07-03-2013.aspx
As normal I participated in the conference call, but there wasn’t much given away at all during the call and very little insight given into the inner workings and trends within Betfair. The introduction took a couple of minutes and the Q&A about twenty.
They were keen to point out that the sportsbook was up 39%, but that was only £7.5m …
Betfair H1 results – Exit LMAX – Rev up, earnings down 25%
A right old mixed bag in Betfair’s results this morning. Official results here: –
https://corporate.betfair.com/media/press-releases/2012/13-12-2012.aspx
If you want the full set of results, regulatory disclosure and detailed extracts, please visit the Bet Angel forum.
As expected Betfair’s new CEO taking the opportunity to hit the reset button on the business. This is a very common practice for incoming CEO’s and will allow better comparitive results this time next year. This set of results you can take in any number …
Betfair revenue down, profits up
Betfair have released their FY12 results this morning and it shows top line revenue down 1% but underlying earnings up 46%. ‘Underlying’ figures are a bit different though, but until we see the presentation it’s difficult to know the exact detail behind the figures or how it was generated. Full result annoucement here: –
https://corporate.betfair.com/media/press-releases/2012/29-06-2012.aspx
Generally speaking, ‘Revenue’ is commision earned from customers, so that appears to have fallen or on an ‘underlying basis’ not grown much. From what I …
Betfair continues squeeze on users
Full management statement here: –
https://corporate.betfair.com/media/press-releases/2012/06-03-2012.aspx
Having been an active investor for over 20 years, here is my take on the management statement. Management statements always focus on the positive and you have to read a bit deeper than the headlines.
Core revenues up 11%, but no mention of non core revenues, other than ‘they are in line with expectations’. The games products are no longer working and despite being pushed in-front of all users, which personally I find very …
Betfair profits up on flat growth
See the full press announcement here: –
At first glance revenue (comissions) have declined, but so has the cost of sales, producing an increase in the bottom line. Admin expenses have also fallen adding to the bottom line.
I’ll have a proper read of the full statement when I get into the office. Betfair shares are up a bit in early trading this morning.
If you want an update of content of the conference call, I’ll be tweeting updates: …
Betfair results due out tomorrow
If you can get up early tomorrow morning you will be able to see Betfair’s H1-12 results. The first since the introduction of the most recent premium charge announcement and various other factors. It will be interesting to see what impact all the news coming out of Hammersmith this year has had on the underlying business. It feels to me like growth has slowed, but that they will be able to boost the bottom line thanks to their very aggressive …
Betfair revenue down 7%
Full regulatory news release available from the following link: –
https://www.investegate.co.uk/article.aspx?id=201109060700136723N&fe=1
IG Index vs Betfair
IG Index released year end results yesterday and they make interesting reading when compared to Betfair. I quite like comparing IG Index and Betfair as they are both spread betting companies, moreso now than ever. Now they are both listed companies, its possible to draw some rough lines around both businesses. Comparisons to IG helped me decide that Betfair was way overvalued when they listed.
Revenues are fairly similar across both businesses but margins at IG are much higher and …
June
June turned out to be a very good month in the end and much better than I expected. It was the best June I’ve had for a few years. How useful to have a decent send off as it were, given the news from last week.
The highlight was obviously Royal Ascot and that contributed the bulk of things for the month. As I have done for a little while, I used both exchanges during Ascot week and this has …
Betfair premium charge & earnings soar
As we are all aware now, Betfair pleaded poverty and an imbalanced business model again yesterday, when announcing another new charge. This time hitting consistent earners for up to 60% of their profits. We heard the similar stories for data charges, transaction charges and the premium charge part one and all the other various amendments over the years to their charge structure.
This didn’t stop them from announcing record revenue and earnings a few hours later. Earnings per share are …
April
Well the met office has just confirmed it was the hottest April since records began in the UK and while the weather was great, trading conditions could be described as good as well. Despite my pessimism at the start of the month I did pretty well. I was just short of last years total, but considering I have decided to ease back on activity this year this was a fine result. The problem I have with this is that is …
March
Mainly thanks to Cheltenham March went OK. It was a surprise to post my best ever March as, outside of Cheltenham, some of the racing was just shocking. Field sizes have been very small and some of the racing just wildly uncompetitive. You wonder why some of these races are going ahead?
I was ‘luck positive’ in March which helped. Last year in April I had several massive doses of luck so I have virtually no chance of repeating that …
February
Last month was pretty quiet. When we are in depths of winter I often take some time off and prepare for the busy summer season and so it was last month.
Summer is so important in sports markets that time off during this busy period is tricky, in the winter much less so. It is important to have a break, so winter is when I tend to do that. That said, a good friend of mine is getting married in …
Ladbrokes results
There is a summary here: –
https://www.bbc.co.uk/news/business-12490900
Or the full detail here: –
https://www.ladbrokesplc.com/media-centre/press-releases/releases-2011/2011-02-17.aspx
A mixed bag of results, but pretty good given the underlying weakness in core markets. Labrokes is still 3-4 times the size of Betfair depending on how you measure it.
Bookmakers still alive and well
William Hill came out with a year end statement today and the headline results were pretty good. Net revenue is expected to come in up 7% on the year delivering EBITDA of around £275m up from £258m in the prior year. Online revenue has grown 24% with sportsbook turnover up 57%.
One other note from the statement was that 47% of scheduled UK racing meetings were cancelled in December.
Full results will be out in late February. It seems traditional …
Snovember
That was an interesting month.
The end of the month was a complete damp squib, which was a shame, but the start was well above expectations. The result was that I managed another month up on the prior year and in fact I somehow managed to beat June, which is a bit weird. I was active on 871 races during the month, so it was still quite a busy month. Biggest individual race topped £1.1k and my worst loss was …
September
September was pretty much spot on where I thought it would be, which is encouraging. I got off to an indifferent start but picked up speed as I went along and finished on a high. Nothing amazing stood out in September and I completed a quiet transition away from the evening racing. The only notable thing was that my strike rate slipped year on year for the first time in a while. I have tweaked a few things recently, so …
August
August turned out to be an interesting month.
I wasn’t sure what to expect, coming into it off the back of a record month, so I set my much expectations lower. It turned out to be a pretty good month anyhow and I was just short of my third best month of the year. I now tend to glance at prior years to figure what I should achieve and I was more or less on target based on years prior. …
January etc.
All things considered January went OK, but it was a very tough month.
The thing to remember if this is your first winter, is that the winter months can be punishing. This year was an even sterner test that usual though. With the weather conspiring against us you will have done well to survive the month with your mindset intact. Volumes were low, markets weak and the racing un-inspiring. I imagine that January cost the racing industry a fair few …
Lack of draws hit Ladbrokes
Full management statement by clicking this link.
Ladbrokes reported 15% lower revenues. They blamed poor margins on horse racing and “exceptionally low” margins on football bets, due to the low number of Premier League draws. In the first 66 games in the Premier League season, only been four draws, just 6% of the total. This compares with the five-year average of 25%.
Ladbrokes are looking to cut their near on £1bn in debt by raising £275m from shareholders, cutting …
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