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Gartner Inc T.IT.R


Primary Symbol: IT

Gartner, Inc. delivers actionable, objective insight to executives and their teams. The Company operates through three segments: Research, Conferences and Consulting. The Research segment delivers independent, objective insight to leaders across an enterprise through subscription services that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts located around the globe. Gartner Conferences are designed for information technology (IT) and business executives as well as decision makers looking to adapt and evolve their organizations through disruption and uncertainty, navigate risks and prioritize investments. The Consulting segment serves chief information officers and other senior executives to optimize technology investments and drive business impact. The Company also provides solutions for a range of IT-related priorities, including IT cost optimization, digital transformation, and IT sourcing optimization.


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Post by Investor4000on Aug 17, 2017 1:48pm
211 Views
Post# 26592774

Totally gaming

Totally gaming

Robust' earnings for 'world's largest bingo operator'

 Wednesday, August 16, 2017  Posted by Luke Massey
Jackpotjoy saw revenue growth of 17% and reduced debt by £100m

Having debuted on the London Stock Exchange (LSE) last January, Jackpotjoy was “encouraged” by the progress shown during H1 2017, which included top-line growth of 18% for its UK bingo brand.

Closing a busy period, the ‘world’s largest online bingo operator’ declared group H1 2017 revenues of £147 million, up 13% on the corresponding period in 2016 (£129 million). The company also detailed strong KPI growth, including more than 240,000 customers across its brand portfolio.

Despite these improvements, higher operational costs combined with financial expenses saw Jackpotjoy post operating losses of £20 million. However, the new LSE industry incumbent did reduce its corporate debt to £414 million, a key priority for the Group.

Andrew McIver, Jackpotjoy Group CEO, commented on H1 2017 performance: “The second quarter has been another good quarter of growth across the Group with revenue increasing 17%, including top-line growth of 18% at our leading UK bingo brand, Jackpotjoy.

“Group adjusted EBITDA1 also grew strongly at 28%. This solid performance across the Group in the first half of the year allows us to reconfirm our full-year 2017 outlook.

“A key priority for the Group is to reduce our historic debt burden. The business is highly cash generative with cash conversion in Q2 of 99%, excluding one-off and exceptional items. Consequently, our adjusted net leverage4 reduced from 4.0x to 3.6x during the six months and gross debt reduced from £514.8 million to £414.5 million.”

Victoria Pease, analyst at Edison Investment Research called the company's quartely earnings as 'robust' and noted that Q3 has started well. She added: "The stock trades at a significant discount to peers, with 2018e multiples of 7.2x EV/EBITDA, 6.1x P/E and 15.0% free cash flow yield. The balance sheet is simplifying following a major earn-out payment and, as the company continues to demonstrate its market dominance, we would expect a re-rating in the shares.”

Totally Gaming says: In 2016, Jackpotjoy announced that it would migrate from the Toronto TSX to LSE exchange to be closer to its core European markets. The decision appears to be paying dividends with the company reducing debt and showing improvements in relation to its product KPIs. The company now enters a crucial H2 period within the ultra-competitive online bingo/casino market, should it continue to progress, showing strong KPIs Jackpotjoy may be the best value industry performer on the LSE.


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