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888 SMASH ANALYSTS FORECAST BY £10 MILLON (888)     

maestro - 14 Sep 2006 07:10

888 Holdings plc
14 September 2006

888 Holdings Public Limited Company

('888' or the 'Company')


Interim Results for the six months ended 30 June 2006





888, one of the world's most popular online gaming entertainment companies,
announces its interim results for the six months ended 30 June 2006.


Financial Highlights


Profit before tax* up 88% to $48.0m (H1 2005: $25.6m)
Net Gaming Revenues ('NGR') up 32% to $163.5m (H1 2005: $123.7m)
Profit before tax* margin up to 29% (H1 2005: 21%)
Operating expenses % of NGR down to 25.6% (H1 2005: 28.0%)
Cost per acquisition** of US$165 (H1 2005: US$200)
Net cash generated from operating activities up 109% to $56.1m (H1 2005:
$26.8m)
Basic EPS* up 89% to 13.8c (H1 2005: 7.3c)
Interim dividend of 4.5c per share
Special dividend of 4.0c per share


* 2006 - excluding share benefit charges


** Excluding customers recruited on a revenue share basis.


Operational Highlights


Geographical expansion outside US - 48% of NGR from non-US territories
and 67% of new real money sign ups from non-US territories


Rapid growth in NGR in the UK up 61% and Continental Europe up 16%


Increased yields per member from Casino and Poker divisions


Continued technological innovation


Continued investment in the 888 brand through sports sponsorships
including two new football sponsorships with Sevilla FC and Toulouse FC in
addition to the World Snooker Championship and a third year with
Middlesbrough FC


Commenting, John Anderson, CEO of 888 said:


'These are excellent results and represent a record performance of profitable
growth. We have delivered on all our flotation goals.


Trading during the first 10 weeks of Q3 is in line with management expectations
and we are on track to achieve a satisfactory outcome for the full year.

As of 31 December 2006, I shall step down as CEO and take the role of
non-executive Director. The current COO, Gigi Levy will succeed me as CEO.
Gigi is an excellent, experienced individual who is more than capable of taking
on this challenge.

I am proud to have led 888, since 2000, through its formative years into the
success it is today. Over the past six years, 888 has been a pioneer in the
online gaming industry.'



An audio replay of the presentation to analysts will be available from the
investor relations section of 888's website (
http://www.888holdingsplc.com

HARRYCAT - 19 Dec 2018 08:16 - 202 of 202

StockMarketWire.com
Online gambling group 888 said it remained confident that adjusted earnings for the full year would be in-line with its expectations, citing progress against strategic objectives in the second half of the year.

888 continued its momentum in sport, casino and across regulated European markets, driven by its ongoing focus on product enhancement with Orbit, 888's new casino platform.

Orbit was launched in May and subsequently rolled out across regulated markets.

In the UK, initial positive trends in revenue, highlighted in the group's half yearly report in September, had continued over the second half of the financial year so far, the company added.

The group continued to strengthen its position in the US, as it launched 888sport in New Jersey in September and acquired the remaining 53% stake in the All American Poker Network. 'During the period 888 has delivered continued progress against its strategic objectives,' chief executive Itai Frieberger said.

'The group has continued to focus on driving growth in regulated markets, enhancing compliance, and delivering exciting product innovation.'
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