 |  Stanley Leisure Casinos down 4 percent
18 Jul 2005
Stanley Leisure posted a 4 percent fall in underlying annual profit on Monday as unfavourable sporting results at its recently sold betting operations offset strong trading at its casinos. The firm, which sold its betting shops to rival William Hill in June, said its casinos were trading satisfactorily so far in its new financial year, while its international betting operations had made a quiet start.
Profit before tax and goodwill was 40.1 million pounds in the year to May 1. Analysts' median forecast was 41.8 million, according to Reuters Research. The firm proposed a final dividend of 7.5 pence a share, taking the total for the year to 10.5p, up 11 percent.
"The new financial year has started satisfactorily across our casino estate," Stanley said in a statement. Underlying profit at London casinos almost doubled in the year to May 1, driven by a recovery from poor results the previous year at its Crockfords club. Profit at provincial casinos was up 2 percent. Underlying profit at betting operations, which have been sold, fell 17 percent, and were down 54 percent at international outlets, largely due to a string of unfavourable soccer results.
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