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Playtech Reports Jump in HY Core Profit

By Scott Kanowsky  AiVIF.com -- Playtech Plc (LON:PTEC) posted a rise in adjusted core profit in the first half thanks in part to strength at the gambling technology firm's...
Playtech Reports Jump in HY Core Profit
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By Scott Kanowsky 

AiVIF.com -- Playtech Plc (LON:PTEC) posted a rise in adjusted core profit in the first half thanks in part to strength at the gambling technology firm's business-to-business operations and its Italian unit, but flagged possible economic headwinds.

Group-wide adjusted earnings before interest, tax, depreciation and amortization jumped by 64% to €203.8M during the period, beating the Isle of Man-based company's previous expectations. Revenue also grew by 73% to €792.3M.

“Our success in the period was powered by our B2B business in the Americas and Europe," said chief executive officer Mor Weizer in a statement.

Weizer added that Playtech's Snaitech division in Italy also drove overall growth in the six months to June 30, with core income surging by 154% to €131.7M due to the reopening of retail sites following the lifting of pandemic restrictions. However, this uptick was offset by a "modest" decline in sales at Snaitech's online business.

Meanwhile, Playtech - a provider of software to larger gambling companies - said it is "confident in its future prospects." But it warned that the macroeconomic outlook remains uncertain, citing potential disruptions caused by the war in Ukraine and pressure from soaring inflation.

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01-10-2022 06:15:25 (UTC+7)

EUR/USD

0.9801

-0.0013 (-0.13%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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EUR/USD

0.9801

-0.0013 (-0.13%)

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↑ Buy

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Buy (11)

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GBP/USD

1.1172

+0.0057 (+0.51%)

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Buy

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USD/JPY

144.79

+0.34 (+0.23%)

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AUD/USD

0.6403

-0.0095 (-1.47%)

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USD/CAD

1.3830

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EUR/JPY

141.89

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EUR/CHF

0.9673

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    EUR/USD 0.9801 ↑ Buy  
    GBP/USD 1.1172 Buy  
    USD/JPY 144.79 ↑ Sell  
    AUD/USD 0.6403 ↑ Buy  
    USD/CAD 1.3830 Neutral  
    EUR/JPY 141.89 Sell  
    EUR/CHF 0.9673 Sell  
    Gold 1,668.30 ↑ Buy  
    Silver 19.015 ↑ Buy  
    Copper 3.3885 ↑ Sell  
    Crude Oil WTI 79.74 Buy  
    Brent Oil 85.56 ↑ Buy  
    Natural Gas 6.826 ↑ Buy  
    US Coffee C 220.98 ↑ Sell  
    Euro Stoxx 50 3,318.20 Neutral  
    S&P 500 3,585.62 ↑ Sell  
    DAX 12,114.36 Neutral  
    FTSE 100 6,893.81 Sell  
    Hang Seng 17,222.83 ↑ Buy  
    Small Cap 2000 1,667.27 ↑ Sell  
    IBEX 35 7,366.80 Neutral  
    BASF 39.600 Neutral  
    Bayer 47.41 Sell  
    Allianz 161.80 ↑ Sell  
    Adidas 118.88 ↑ Sell  
    Lufthansa 5.918 ↑ Buy  
    Siemens AG 101.20 Sell  
    Deutsche Bank AG 7.646 Sell  
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