888 Holdings share price rises after it forecasts strong growth in earnings
888 Holdings, operator of online gambling websites, enjoyed a near-four per cent rise in its shares to 125p yesterday, after it said it expects earnings to have risen strongly in the first half of the year.
The London-listed company, based in Gibraltar, said it expects half-year earnings to be “significantly ahead” of last year’s $38.6m (£22.5m).
“[T]he board continues to look forward with confidence,” said the company in a statement yesterday.
Investec analyst Andrew Fitchie said in a note that while detail in the firm’s trading update was minimal, Investec expects it to equate to an earnings increase of 10 per cent or more.
888 drew attention recently when it dropped its sponsorship of Uruguayan striker Luis Suarez after he bit Italian player Giorgio Chiellini during a World Cup match in June.
The company will release its full first-half results on 27 August.