Thursday August 18,2011 : Turnover drops 8 percent
The Gala Coral online and land gambling group continued to underperform in its third quarter, according to results just released. Turnover dropped by 8 percent to GBP251.8 million, and even factoring in the impact of World Cup Football business in the corresponding period last year, performance can only be described as stable.
Looking at the half year numbers, turnover is 5 percent down at GBP868 million.
Earlier this month the group reported Q2 turnover of GBP276.6 million – GBP3.5 million or 1 percent below the corresponding quarter in the prior year. EBITDA in the second quarter declineded by GBP10.1 million, or 12 percent from GBP81.1 million in 2010 to GBP71 million in 2011.
The group debt burden at that time was GBP1,339.9 million.