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.
Top Gear presenter is no stranger to foot-in-mouth controversy
Want to ward off (or welcome) trick-or-treaters? Here's how
- 1 'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
- 2 Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
- 3 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 4 If you think Russell Brand’s new book is confused, you should read what his critics have to say about it
- 5 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
Halloween 2014: From the Screaming Man of Pluckley to the 'White Lady' of the Tower of London - Britain's 20 most haunted places
Russian politician says Apple CEO Tim Cook should be 'banned' from country after coming out as gay
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
iJobs Money & Business
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...