Sports betting and gambling company Entain Plc. (GMVHF,ENT.L) on Thursday reported a narrower loss in fiscal 2024, helped by higher revenues. The company also announced a second interim dividend.
The company posted loss before tax of 357.4 million pounds for the fiscal 2024, narrower than loss of 842.6 million pounds a year ago. On an underlying basis, pre-tax profit was 518.4 million pounds, compared to 444.9 million pounds last year.
Loss for the year came in at 461.0 million pounds, or 70.8 pence per share, narrower than loss of 936.5 million pounds or 150.7 pence per share in the prior year. This was due to a separately disclosed items charge of 876 million pounds, which include impairments following known regulatory changes and heightened competitor activity in certain smaller markets.
On an underlying basis, the company posted profit of 379.5 million pounds or 29.9 pence per share, compared to 339.1 pounds or 44.2 pence per share last year.
Group revenues climbed 7 percent to 5.09 billion pounds from 4.77 billion pounds in fiscal 2023.
Underlying EBITDA came in at 1.09 billion pounds, up 8 percent from last year's 1.01 billion pounds.
The company's Board has proposed a second interim dividend of 60 million pounds or 9.3 pence per share, to be paid on April 25 to shareholders on register on March 14. This brings the total dividend for 2024 to 119 million pounds or 18.6 pence per share, higher than the dividend of 17.8 pence per share paid last year.
Looking ahead, the company said that it expects to develop fiscal 2025 Online NGR in line with underlying markets.
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