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Premarket London: Talk Talk Swings to 1H Profit; 888 Defiant

Published 15/11/2019, 08:06
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Investing.com -- Here is a rundown of regulatory news releases from the London Stock Exchange on Friday, 15th November. Please refresh for updates

  • Gambling group 888 Holdings (LON:888) said it's sticking by non-executive chairman Brian Mattingley despite a strong vote against him by shareholders at its annual meeting in May.

  • "The Board's decision to retain Mr. Mattingley as its Non-Executive Chairman reflects the significant value he brings to the Board, including in particular his wealth of gambling industry and public company experience, deep knowledge of the business and industry contacts," the company said, adding that "Mr. Mattingley's continued tenure as Non-Executive Chairman benefits all shareholders."

  • 888 has badly underperformed rivals GVC and Flutter over the last 18 months, in which its share price has fallen some 40%.

  • Telecom network operator Talk Talk (LON:TALK) swung to a pretax profit of 1 million pounds ($1.29 million) in the first half of its 2020 fiscal year, thanks to a surge in new fiber customers.

  • Like-for-like EBITDA rose 14% on the year, as it added a net 292,000 customers for its fiber network, up from 192,000 additions a year earlier. It did particularly well in the second quarter, accounting for 33% of all Openreach Fiber-to-the-Cabinet lines.

  • Revenue fell 3.6% due to discontinued businesses.

  • The company kept its EBITDA outlook for the full year unchanged.

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