Thursday preview: Playtech, CRH report first half results

Playtech is expected to reveal healthy revenue growth in its first half results on Thursday, driven by a strong performance in its casino business.

UBS estimates the gambling software development company will post a 12% increase in revenue to €348m on an organic constant currency basis, including a 16% rise to €173m in the casino division and a 9% gain in services to €81m. UBS predicts €45m in revenues from Markets.com.

“Our earnings per share (EPS) estimate of 26 cents is likely below consensus because we assume a €34m/10cents loss for the sterling-denominated cash held on the balance sheet, which Playtech includes in its EPS calculation, but consensus may not.”

“We also include the convertible bond shares in our EPS calculation, while Playtech does not. Thus, we reduced our EPS estimate for 2016E by 14%/10cents, while our revenue/EBITDA forecasts (and EPS estimates for 2017E onwards) were unchanged.”

Irish building materials company CRH is also scheduled to report its first half results. The group has already guided towards an EBITDA of €1.1bn so the focus will likely be on the outlook for the second half.

Numis said: “We expect year-on-year growth to primarily have been driven by the Americas business, following a strong first quarter (revenue: +22%) and US statistics showing construction put-in-place up 10% in the first half.

“We also anticipate an improved performance in Europe, where sales were flat in the first quarter (note that the UK now represents 10% of group EBITDA and therefore investors will be interested in whether the business has seen any impact from the Brexit referendum).”

Thursday 25 August

INTERIMS
Anglo Pacific Group, Cairn Homes , CRH, Henry Boot, IFG Group, OptiBiotix Health, Playtech, STV Group

INTERIM DIVIDEND PAYMENT DATE
Polar Capital Global Financials Trust, Tritax Big Box Reit

INTERIM EX-DIVIDEND DATE
Apax Global Alpha Limited , Avanti Capital, BlackRock World Mining Trust, British Smaller Companies VCT 2, Devro, Equiniti Group , FDM Group (Holdings), Glanbia, Hammerson, Henderson Group, London Stock Exchange Group, Low & Bonar, LPA Group, Marshall Motor Holdings, Mobeus Income & Growth Vct, North Midland Construction, Polypipe Group , Prudential, Robinson, Rotork, Taylor Wimpey

QUARTERLY EX-DIVIDEND DATE
Carnival, HICL Infrastructure Company Ltd

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Continuing Claims (US) (13:30)
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
Import Price Index (GER) (07:00)
Initial Jobless Claims (US) (13:30)

Q2
Anglo Pacific Group

SPECIAL DIVIDEND PAYMENT DATE
Aberforth Geared Income Trust

AGMS
Albion Enterprise VCT, Oryx International Growth Fund Ltd., The Fulham Shore

UK ECONOMIC ANNOUNCEMENTS
Nationwide House Price Index (07:00)

FINAL DIVIDEND PAYMENT DATE
Hayward Tyler Group

FINAL EX-DIVIDEND DATE
Bloomsbury Publishing, Carclo, Cohort, Dixons Carphone , Miton UK Microcap Trust, Park Group, Redcentric