PTEC (Playtech) is a weird old company. At a market cap of £904m, it gets very little attention out of ADVFN posters. PER of just under 9, ROE of 20%, net cash £56m. A clutch of reports were issued by the company today:
Acqusition of Geneity Ltd
Signs German JV with Gauselmann
Seals South African JV with Peermont
In the KPIs, total revenues up 89%. Everything is going up ... except the share price, which is down 4.6% on the news above. All very curious.
Just a reminder that I bailed out on PTEC earlier this year due to what I perceived to be the overwhelming smell of haddock.