888 Holdings (888)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

188.00p
   
  • Change Today:
      6.40p
  • 52 Week High: 192.40
  • 52 Week Low: 70.70
  • Currency: UK Pounds
  • Shares Issued: 368.74m
  • Volume: 1,630,204
  • Market Cap: £693.22m

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888 halves final dividend during Covid-19 crisis

By Sean Farrell

Date: Wednesday 15 Apr 2020

LONDON (ShareCast) - (Sharecast News) - 888 Holdings halved its final dividend as the online gambling company reported resilient trading so far in the Covid-19 crisis.
Reporting results for 2019, 888 declared a final dividend of 3 cents a share, down from 6 cents a year earlier. Total dividends for the year were 6 cents a share, less than half the 12.2 cents paid out in 2018.

Adjusted pretax profit for the year to the end of December fell to $53.2m (£42.5m) from $86.7m a year earlier as revenue rose 6% to a record $560.3m. Reported pretax profit more than halved to $45.3m from $108.7m as gaming duties increased by almost $26m and the group incurred $2.3m of exceptional costs without a repeat of $11.1m one-off income in 2018..

888 said business was in line with its board's expectations so far in 2020 with no change to trends reported in a Covid-19 update in March. The company said the cancellation of sporting events would hit its sports betting business but that increased use of casino and poker products could partly offset that impact. But in an extended period of economic turmoil consumer spending across its business may be affected, it added.

Unlike many other companies 888 has not scrapped its final dividend to hold on to cash during the coronavirus crisis.

888 said the halving of the final payout "reflects the performance of the group, regulatory developments and the importance of retaining adequate cash to fund potential investment activities and as a prudent measure given the unprecedented uncertainty caused by Covid-19."

The company added: "While it is unclear how this fast-moving situation will evolve over the coming weeks and months and it is incredibly difficult to predict how consumers will react throughout this period of unprecedented uncertainty, as a purely online operator with diversified brands across product verticals and a strong balance sheet, the board is confident in 888's ability to manage these challenges."

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888 Holdings Market Data

Currency UK Pounds
Share Price 188.00p
Change Today 6.40p
% Change 3.52 %
52 Week High 192.40
52 Week Low 70.70
Volume 1,630,204
Shares Issued 368.74m
Market Cap £693.22m

888 Holdings Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
45.43% below the market average45.43% below the market average45.43% below the market average45.43% below the market average45.43% below the market average
65.71% below the sector average65.71% below the sector average65.71% below the sector average65.71% below the sector average65.71% below the sector average
Price Trend
53.81% above the market average53.81% above the market average53.81% above the market average53.81% above the market average53.81% above the market average
78.08% above the sector average78.08% above the sector average78.08% above the sector average78.08% above the sector average78.08% above the sector average
Income
1.93% above the market average1.93% above the market average1.93% above the market average1.93% above the market average1.93% above the market average
28.89% above the sector average28.89% above the sector average28.89% above the sector average28.89% above the sector average28.89% above the sector average
Growth
46.47% below the market average46.47% below the market average46.47% below the market average46.47% below the market average46.47% below the market average
33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average33.33% below the sector average

What The Brokers Say

Strong Buy 6
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

888 Holdings Dividends

  Latest Previous
  Final Interim
Ex-Div 23-Apr-20 19-Sep-19
Paid 22-May-20 18-Oct-19
Amount 3.00¢ 3.00¢

Trades for 10-Jul-2020

Time Volume / Share Price
17:03 10,945 @ 187.16p
17:03 19,345 @ 187.16p
16:35 293,354 @ 188.00p
16:29 692 @ 187.60p
16:29 19 @ 187.60p

888 Holdings Key Personnel

CFO Aviad Kobrine
CEO Itai Pazner

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