Tuesday, January 24, 2012

Playtech update

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
  • issues KPIs
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.


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