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Flutter Entertainment FY19 Profit Down, Sees Flat US EBITDA In FY20; Stock Dips

Shares of Flutter Entertainment plc (FLTR.L) were losing around 5 percent in the early morning trading in London after the sports betting and gaming operator reported Thursday that its fiscal 2019 profit before tax declined 38 percent to 136 million pounds from last year's 219 million pounds.

Earnings per share fell 24 percent to 183.2 pence from 241.7 pence last year. Underlying earnings per share were 303.3 pence, compared to 379.3 pence a year ago.

Underlying EBITDA, pre IFRS 16, was 385 million pounds, down 15 percent from 451 million pounds last year.

Underlying Group EBITDA excluding US (pre IFRS 16) was 426 million pounds, down 9 percent from last year.

Revenue for the year grew 14 percent to 2.14 billion pounds from 1.87 billion pounds last year.

Further, the company proposed a full-year dividend per share of 200 pence, same as last year.

Looking ahead, the company said 2020 has begun strongly, with good customer and revenue momentum across all of its divisions.

The company currently expects the US EBITDA outcome for 2020 to be similar to 2019.

In London, Flutter shares were trading at 8,370.22 pence, down 5.16 percent.

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