Business
Trading Update
Trading Update.
About this update from Entain Plc
[{"type":"text","content":"\n \nRNS Number : 9540U GVC Holdings PLC 18 July 2018 \n\n \n18 July 2018\n \nGVC Holdings PLC\n(\"GVC\", the \"Group\")\n \nH1 Post Close Trading Update\n \nGVC Holdings PLC (LSE: GVC), the multinational sports betting and gaming group, is pleased to announce a post close H1 trading update.\n \nKey highlights (proforma basis1):\n \nQ2:\n· Positive growth trends continue with Group NGR +11% (cc2 +12%) \n· Strong Online NGR growth at +22% (cc2 +25%) \n· UK Retail Like-for-like (\"LFL\")3 NGR in growth at +2% helped by World Cup \n· European Retail NGR +19% (cc2 +16%)\n \nH1:\n· Group NGR +8% (cc2 +8%)\n· Online NGR +18% (cc2 +20%) \n· For the period up to commencement of the World Cup Online NGR +15% (cc2 +17%) \n· Positive World Cup driven by margin and volume\n· UK Retail LFL3 NGR -3%\n· European Retail NGR +29% (cc2 +26%) \n \n \nThe Group saw an acceleration in year-on-year growth in Q2 2018 over Q1 2018 driven by good underlying momentum and the World Cup. \n \nOnline NGR growth was 22% in Q2 (cc2 +25%) and +18% (cc2 +20%) for the six months to 30 June 2018. Online NGR for the period from 1 January to 13 June (i.e. prior to the commencement of the World Cup) was +15% (cc2 +17%), reflecting strong underlying growth. The Online brands have continued to benefit from a pipeline of new products and from high profile marketing campaigns.\n \nUK Retail trends improved in the second quarter as the weather proved less disruptive than in the first quarter, while growth in European Retail remained very strong, albeit helped by a soft comparative. \n \nThe World Cup tournament as a whole has been a good one for the Group, helped by a better than expected gross win margin but also importantly volumes and value of new customer deposits. \n \nThe Group intends to release its interim results on 13 September 2018.\n \n \nKenneth Alexander (CEO) said:\n \n\"I am pleased to report this positive trading update whilst at the same time undertaking the integratio...