| Gala Results Show Decline in Revenues |
| Written by Mark Bennett |
| Wednesday, 10 August 2011 09:50 |
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Gambling giant Gala Coral has released its half yearly results for 2011 which showed a drop in turnover. The results for the six months to 9th April 2011 showed: * Turnover of £ £616.2 million which was down £21 million or 3 percent on the same period in 2010 * EBITDA of £149.7 million, a decline of £19.1 million or 11 percent on the same period in 2010 * Operating cash generated £143.3 million * Capital investment of £19.6 million * Cash of £281 million which showed an increase of £20.6 million from 25 September 2010. * £1,339.9 million of net debt The company noted that trading in the second quarter showed improvements across the group. Turnover was £276.6 million which was £3.5 million or 1 percent below the same quarter in the previous year. Online businesses showed a 22% decline in profit on the same period as last year. New plans to move to Playtech software with plans to launch new website in 2012 Gala Bingo showed a 17% increase in EBITDA on the same half year period last year.
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