ONLINE DRIVES GALA CORAL GROWTH
26th August, 2014 at 08:05:39
Looking to sell off retail division
UK operator Gala Coral
said its online performance boosted strong growth in its quarter three results.
Key performance indicators for the 12 week period ending July 5, 2014 include:
- Total group EBITDA of £ 67.2 million (Q3/2013: £ 56.9 million), up 18 percent.
- An increase of 15% in continuing operations turnover to £ 292.7million (Q3/2013: £ 254.9 million).
- Gross Profit from continuing operations amounted to £ 208.3 million, up 10 percent.
Key performance indicators for the 9 month period ending July 5, 2014 include:
- Total group EBITDA of £ 205.5 million (9M/2013: £ 193.8 million), up 6 percent.
- Turnover continuing operations of £ 951 million (9M/2013: £ 853.1 million), up 11 percent
- While Gala Coral
's retail business suffered, its online division posted strong results delivering total EBITDA of £ 43.7 million (9M/2013: £ 20.6 million)
The group delivered another strong performance with EBITDA ahead in all divisions and 20% overall", commented Carl Leaver, group chief executive officer of Gala Coral Group.
Growth in the online business continues to be very encouraging, in particular in Coral.co.uk, where customer acquisition offers, together with ‚EURňúCoral Connect' sign USA helped drive actives 94% ahead of last year."
Group Online EBITDA was £ 4.4 million, 51% ahead of last year while Gross Profit came in at £ 11.7 million, 50% ahead of last year.
Online sports stakes were £ 85.1 million or 126% ahead of last year and sports gross win £ 5.5 million or 121% ahead. Bet In Play stakes increased 140% year-on-year primarily driven by the launch of live streaming.
During the quarter ‚EURňúCoral Connect', which allows customers to access a single wallet across retail and online channels, continued to receive a positive response from customers with sign-ups now over 110,000", Lever said.
We remain pleased with the turnaround in the performance of Gala Retail and have recently embarked on a process to explore the potential sale of this division.
Related News Tags: Coral, Gala