| Betfair to Buy Share Back After Slump in Price |
| Written by Mark Bennett |
| Wednesday, 29 June 2011 20:04 |
|
The gambling group Betfair has announced that it will be looking to buy back £50 million of its ordinary shares. The share price in the company has slumped since initial public offering in October 2010. David Yu, chief executive officer, Betfair said: We have a plan in place to deliver long-term shareholder value through a combination of accelerating our revenue growth, driving further margin improvement and returning excess cash to shareholders. The share buy-back programme is one element of this plan. We have always been a very cash generative business which allows us to both invest for the future and return cash to shareholders."
|
