Stanley hit by lucky punters
Thursday 29 April 1999
Stanley, which is in the midst of a pounds 86.4m agreed deal to buy casino operator Capital Corporation, said pre-tax profits for the year ending 2 May 1999 would be "not less" than pounds 23m, compared with last year's pounds 23.9m
Last year Stanley took pounds 10m in the second half, of which pounds 2m was from the amusements sector. This year's forecasts show second-half figures are down to about pounds 3.5m, with the same pounds 2m holding steady from the amusements.
The low margins in the betting business are being attributed to a combination of bad luck and consistently wet weather, which has left punters well- placed to predict winners.
"A well-fancied horse won the Grand National and a favourite won the Lincoln. They probably lost a million more than they thought on the Grand National," an analyst said.
However, there are worries in the market that the sales mix in betting is changing away from the horses and towards football, which may lead to more consistently predictable results and lower margins for operators.
"A lot depends on whether this is a structural problem or just a six- month issue which will reverse as luck turns," said one analyst.
With the shares closing 5p lower at 246.5p, the stock is trading on a forward multiple of 18. Hold.
- 1 The scientist who takes 100 drugs a day so he can live to 150
- 2 The Visit: Trailer for M Night Shyamalan's latest horror film is terrifying
- 3 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 4 The confessions of men who ordered mail-order brides
- 5 General Election 2015: Stephen Hawking says he will vote Labour
General Election 2015: Tories sack candidate who said she would never support 'the Jew' Ed Miliband
9/11: Iranian General accuses US of organising September 11 terror attacks
General Election 2015: Stephen Hawking says he will vote Labour
Yazidi sex slaves undergoing surgery to 'restore virginity' after being raped by Isis militants
Australian student Tommy Connolly, 23, adopts his pregnant, homeless 17-year-old cousin to give her a chance at 'a better life'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
EU exit would hit UK economy much harder than neighbouring countries, study finds
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...