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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Playtech    PTEC   IM00B7S9G985

PLAYTECH

(PTEC)
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Playtech : first-half profit drops as COVID-19 hits sales, sports events

09/17/2020 | 03:08am EST

Gambling software maker Playtech said on Thursday it expects online business to remain strong even as it posted lower first-half profit, hit by store closures and sports events cancellations due to coronavirus-led curbs.

The world's biggest supplier of technology for online gaming operators said first-half adjusted core earnings fell 15% to 162.3 million euros (147.70 million pounds) for the six months ended June 30.

The company, however, said it remains cautious about the outlook for its retail business.

Playtech said it saw strong cash generation in July and August and has continued to expand into important markets such as the United States and Latin America.

The company also said it does not expect strong second-half performance at its financial trading arm TradeTech as it did in the first half as market volatility is currently significantly lower.

Shares of the company were down 7.8% at 361 pence in early trade.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Ramakrishnan M.)


ę Reuters 2020
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Financials
Sales 2020 1 242 M 1 493 M 1 493 M
Net income 2020 27,4 M 32,9 M 32,9 M
Net Debt 2020 638 M 767 M 767 M
P/E ratio 2020 64,3x
Yield 2020 -
Capitalization 1 669 M 2 014 M 2 007 M
EV / Sales 2020 1,86x
EV / Sales 2021 1,61x
Nbr of Employees 6 400
Free-Float 94,1%
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Technical analysis trends PLAYTECH
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Average target price 5,26 €
Last Close Price 5,61 €
Spread / Highest target 15,4%
Spread / Average Target -6,24%
Spread / Lowest Target -21,2%
EPS Revisions
Managers and Directors
NameTitle
Moran Weizer Chief Executive Officer & Executive Director
Andrew James Smith Chief Financial Officer & Executive Director
Shimon Akad Chief Operating Officer
Ian Ince Global Head-Regulatory Affairs & Compliance
John E. Jackson Senior Independent Non-Executive Director
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