The rail ticketing platform Trainline issued a trading statement this morning ahead of half year results. This update provided plenty of cheer for investors with net ticket sales up by 18% and revenues tracking towards the upper end of previously stated guidance. With adjusted EBITA also tipped to come in at the top end of forecasts, management have also announced the launch of a £150m share buyback. The Trainline share price added more than 8% in early trade.
Interim results from the gambling software development company Playtech were released today. Following a significant disposal the company is in a strong cash position and believes the second half of the year holds great potential as the company pivots back towards its roots. Revised forecasts have upped full year expectations, the medium term outlook is on track and that bolstered balance sheet will allow the company make further investments. The Playtech share price was almost 10% higher shortly after the open.
The B2B publisher issued a note this morning advising that it had agreed the conditional sale of Thelawyer.com, the operating company of The Lawyer magazine. An enterprise valuation of £43m has been stated and this is the latest move as the company looks to maximise shareholder value. Some of the realised funds will be returned to shareholders and the Centaur share price was 20% higher by 9am.
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