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BRIEF-Paddy Power Betfair ‍FY earnings up 18 pct, beats guidance

Published 07/03/2018, 06:08 pm
Updated 07/03/2018, 06:10 pm
© Reuters.  BRIEF-Paddy Power Betfair ‍FY earnings up 18 pct, beats guidance
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March 7 (Reuters) - Paddy Power Betfair Plc PPB.I :

* ‍UNDERLYING EBITDA UP 18% TO £473M, HIGHER THAN OURPREVIOUSGUIDANCE RANGE​

* ‍FINAL DIVIDEND OF 135P PER SHARE, RESULTING IN TOTALDIVIDENDSFOR YEAR UP 21 PERCENT​

* ‍CONTINUED STRONG CASH GENERATION, WITH UNDERLYING FREECASHFLOW UP 57% TO £395M​

* ‍EUROPEAN PLATFORM INTEGRATION COMPLETED IN JANUARY 2018ANDRESOURCES NOW FOCUSED ON DEVELOPING CUSTOMER FACING PRODUCTS​

* ‍TARGETING LEVERAGE OF BETWEEN 1X AND 2X NET DEBT TOEBITDA INMEDIUM TERM TO IMPROVE EFFICIENCY OF GROUP'S CAPITAL STRUCTURE​

* ‍ADDITIONAL C.£20M INVESTMENT IN MARKETING AND CUSTOMERPROPOSITION PLANNED IN 2018 TO BOOST PADDY POWER BRAND IN UK,BETFAIR IN INTERNATIONAL MARKETS​

* ‍NEW FINANCIAL YEAR HAS STARTED AS 2017 ENDED, WITHSPORTINGRESULTS FAVOURING BOOKMAKERS​

* ‍SUSTAINED PERIOD OF BOOKMAKER FRIENDLY RESULTS HAS,HOWEVER,SIGNIFICANTLY AFFECTED CUSTOMER ACTIVITY​Further company coverage: PPB.I

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