RE:RE:RE:GVC results todayThis is what was on another chat site about GVC which finished over 7% up, we need something similar tomorrow.
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Hi Guys,
I was on the Webcast this am - what a spectacularly great set of results - I'll start with a few key quotes:
"Very strong growth with market share gains in all key territories" "We are growing faster than all our competitors"
"Ladbrokes integration- couldn't be going any better"
"Triennial Review - £2 FOBT - we're ready and we will take market share"
US Market - Kenny - even more bullish now. "We expect to be the market leader - anything else will not be acceptable"
Debt - 3x is comfortable - cost of debt is 4% and debt horizon for refinance is 2022. "GVC is highly cash generative and hence the guidance on dividend policy" Which is 10% p.a. growth on top of the 7% increase this year. Debt leverage will be taken down 0.5x each year going forward.
Hats off to Kenny and team - absolutely perfect execution - made some key promises also on his intention to lead the market on corporate responsibility.
Funnily enough Mr Market had the shares marked down prior to the webcast before coming to his senses and closing up 46p (7.07%) at 697p.