Shares in Flutter soared after the Betfair and Paddy Power owner reported higher sales and said it was on track to list in New York this month.
The gambling giant’s revenues leapt by almost a quarter last year, sending shares surging 15.3 per cent, or 2025p, to 15,225p.
Revenue rose 15 per cent to £2.7billion in the final three months of 2023, with sales up 24 per cent to £9.5billion across its financial year – even as its US business was hit by huge payouts on American football games.
Flutter said it remains on track to start trading shares in New York this month, while keeping its primary listing in London.
Chief executive Peter Jackson said: ‘This is a pivotal moment as we make Flutter more accessible to US investors and gain access to deeper capital markets.’
Betfair and Paddy Power owner Flutter’s revenues leapt by almost a quarter last year, sending shares surging 15.3%, or 2025p, to 15,225p
Ladbrokes and Coral owner Entain was up 6.1 per cent, or 54.8p, to 949.6p. But William Hill owner 888 only managed a 1.3 per cent, or 1.05p, rise to 80.8p.
The FTSE 100 inched up 0.2 per cent, or 12.80 points, to 7459.09 and the FTSE 250 rose 0.4 per cent, or 83.67 points, to 18,948.04.
Harbour Energy, Britain’s biggest North Sea producer, was knocked back following a drop in revenues and production in 2023.
It expects output to fall again this year due to planned shutdowns alongside the possible sale of its Vietnam business. Shares shed 8.8 per cent, or 27.8p, to 289p.
Mike Ashley’s retail empire strengthened its grip on Boohoo.
The latest stock market filing showed the fashion firm’s top shareholder Frasers Group, which owns brands such as Sports Direct and Jack Wills, raised its stake to 21.49 per cent from 17.22 per cent. Frasers slid 0.1 per cent, or 1p, to 792p while Boohoo rose 0.03 per cent, or 0.01p, to 34p.
Stock Watch – Ceres Power
Ceres Power soared after the clean energy firm did a long-term deal with a Taiwan electronics manufacturer.
The Horsham group will share and license its hydrogen technology to Delta, which wants to start making fuel cells by the end of 2026 to power its products.
Ceres expects to be paid around £43million and should pocket half this year.
Shares jumped 37.7 per cent, or 56.9p, to 208p.
But are sharply down from a peak of 1588p in January 2021.
<!- – ad: https://mads.dailymail.co.uk/v8/ua/money/moneymarkets/article/other/mpu_factbox.html?id=mpu_factbox_1 – ->
An AIM-listed smart meter installer that works with British Gas is on the verge of being gobbled up by a Wall Street private equity firm.
Smart Metering Systems (SMS) last month told investors to back a £1.3billion offer from KKR, which was a 40 per cent premium on the pre-offer share price, only to be attacked by SMS’s top shareholder and founders Alan Foy and Steve Timoney.
Today, KKR said its takeover offer, which needs approval from more than 50 per cent of shareholders, was final. Shares gained 5.6 per cent, or 50p, to 950p.
Iron ore miner Ferrexpo will pay an interim dividend to investors and hand a salary increase and bonus to its workers in Ukraine after its results for 2023 were better than expected. Shares jumped 16.9 per cent, or 12.25p, to 84.65p.
Builders’ merchant Travis Perkins axed an unspecified number of jobs at the end of last year and further cuts are on the way in the face of a construction slowdown. It rose 5.6 per cent, or 41.6p, to 781.4p.
Troubled music firm Hipgnosis Songs Fund hopes to lure potential buyers by paying them a lump sum. It has proposed handing up to £20million to any bidder who makes an approach that could be recommended to shareholders. Shares rose 1 per cent, or 0.7p, to 71p.
Sage revenue rose 10 per cent to £573million in the three months to the end of December as it cashed in on offering technology and AI to small and medium-sized businesses. It rose 0.4 per cent, or 5p, to 1160.5p.
Government contractor Capita – up 2.8 per cent, or 0.52p, to 19.32p – has sold all the businesses it no longer considers essential.
The group, which collects the BBC licence fee, pocketed £62million for offloading its 75 per cent stake in Fera to a fund managed by private equity firm Bridgepoint.
At AJ Bell customer numbers and assets under management rose. Boss Michael Summersgill said last year’s challenges were starting to wane. Shares gained 5.6 per cent, or 16.6p, to 313.8p.
Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.
