Saturday 10 December 2016

All eyes on Paddy Power Betfair ahead of results

Published 19/08/2016 | 02:30

Former Paddy Power chief executive Andy McCue is the new boss at the Restaurant Group
Former Paddy Power chief executive Andy McCue is the new boss at the Restaurant Group

Analysts and investors alike will be keeping a close eye on the results and future strategy of recently merged betting giant Paddy Power Betfair.

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The two companies came together in an €8bn deal and began trading on the Irish and London stock exchanges in February.

Since then a number of high profile executives have left the business, including former Paddy Power chief executive Andy McCue, who is the new boss of the UK's Restaurant Group.

On Wednesday Paddy Power Betfair will post its maiden interim results and while the company's growth and performance will be of interest, Davy Stockbrokers said there will be a greater emphasis on its future. "We believe that the announcement will be closely watched, not least because investors will be looking for more specifics around future strategy; an update on achievable synergies; and comfort that business momentum has not been unduly impacted by integration work and management changes," Davy said in a note.

Irish Independent

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