Online Gambling Sites in

Nigel Thomas
26 Aug, 2015
New York City

Betfair agreed to a

[R]4:00 PM Frankfurt – Betfair agreed to a £5 billion merge agreement with the Ireland-based rival Paddy Power. HSS Hire net loss widened while revenues soared 12%. SkyePharma net swung to profit. WPP profit surged 52% to £601 million.[/R]

European markets struggled after volatility perked up in world markets and indexes continue to swing wildly in New York, Europe and Asia.

In London trading, FTSE 100 index slumped 50.83 or 0.8% to 6,030.51 and in Frankfurt the DAX index slid 31.99 or 0.3% to 10,101.38.

In Paris, CAC 40 index fell 21.59 or 0.5% to 4,546.36.

Anglo Pacific Group Plc slumped 2.6% to 83.25 pence after the U.K.-based mining company said revenues in the first-half ending in June advanced 48.4% from a year ago to £3.8 billion from £2.6 billion.

Net loss in the period narrowed from a year ago to £8.8 million compared to £23 million and diluted loss per share decreased to 5.81 pence form 20.84 pence.

Betfair Group Plc surged 21.8% to 3,170 pence after the online sports betting and gaming company reported revenues in the first-quarter ending in July jumped 15% from a year ago to £135.4 million from £117.3 million.

Separately, the company and the Ireland-based international betting and gaming company Paddy Power Plc signed a merger agreement of £5 billion or $7.85 billion to create an international sports-betting and a gambling group Paddy Power Betfair Plc.

After the merger, Paddy Power shareholders will control 52% of the merged company and receive €80 million or $89.3 million special dividend and shareholders of Betfair will own 48%.

Paddy Power Plc, the Ireland-based international betting and gaming company said revenues in the first-half ending in June soared 33% from a year ago to €527.8 million from €396.5 million.

Net profit in the period surged 27.6% from a year ago to €68.4 million compared to €53.6 million and diluted earnings per share increased to €1.45 from €1.11.

HSS Hire Group Plc tumbled 37.4% to 80.70 pence after the U.K.-based tools and equipment provider reported group said revenues in the first-half ending on June 27 soared 12% from a year ago to £146.4 million from £130.6 million.

Net loss in the period widened from a year ago to £14.1 million compared to £12.7 million but diluted loss per share increased to 10.51 pence from 19.61 pence.

As of June 27, net debt decreased to £197.2 million from £306.4 million a year ago period.

SkyePharma Plc soared 10.3% to 294.75 pence after the U.K.-based specialty pharmaceutical company stated revenues in the first-half ending in June surged 19% from a year ago to £40.8 million from £34.4 million.

Net in the period swung to profit from a year ago to £9.1 million compared to a loss of £17.7 million and diluted earnings per share swung to 8.6 pence form a diluted loss per share of 27 pence.

WPP Plc, the communications services provider reported revenues in the first-half ending in June jumped 6.8% from a year ago to £5.84 billion from £5.47 billion.

Net profit in the period surged 51.7% from a year ago to £601 million compared to £396 million and diluted earnings per share increased to 43 pence from 27 pence.

The company said average net debt in the period increased 9% from a year ago to £3.13 billion.