9th Jul 2014 07:39
LONDON (Alliance News) - Online gaming company 888 Holdings PLC saw its share rise Wednesday after the company said it expects earnings for the first half of the year to be significantly ahead of last year.
In a short statement, the company said trading has been strong in the first half, and it expects earnings before interest, taxes, depreciation and amortisation for the six months to June 30 to be "significantly ahead" of the first-half of last year.
In the first-half of last year, 888 reported adjusted Ebidta of USD38.6 million.
Back in April, the company said group revenue rose 11% in the first quarter of its financial year, driven by sales in its core casino and poker products.
888 said Wednesday that it is confident in the outlook for the business for the remainder of the year.
"Whilst the outcome for the full year will be dependent on the company's trading during the second half, the board continues to look forward with confidence," it said.
The company said it will release its first-half results on August 27.
888 shares were up 5.4% at market open Wednesday, at 126.75 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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