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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Neville Porter | LSE:NEV | London | Ordinary Share | GB00B1KKFP62 | ORD 0.0444P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
NEVILLE PORTER plc PITCH ACQUISITIONS - GALWAY Neville Porter plc ("Neville Porter" or the "Company"), a leading independent on-course and off-course bookmaker operating in the UK and Republic of Ireland, has bought a racecourse pitch at Galway, Ireland for £240,000 in cash. This is the second pitch that the Company owns in the Republic of Ireland following the purchase of a pitch at Leopardstown in December 2006. The Galway pitch is in a prime position which is an important factor in determining the footfall past the pitch and hence the volume of business likely to be transacted. Galway is a prestigious racecourse where one of the key festival race meetings in the Irish horseracing calendar is held. This acquisition represents a fulfilment of the Company's strategy to further increase its presence in Ireland. The Irish market presents a strong business opportunity because bookmakers' margins are typically higher than those achieved in the U.K. Following the acquisition of the Leopardstown pitch in Ireland, the Company achieved an average gross win margin of 15.4 per cent, compared to 9.2 per cent in the U.K. This acquisition will also enhance the ability of the Company to market its telephone betting service direct to Irish on-course customers; as the Irish market is a relatively untapped market for U.K. bookmakers, the Company is optimistic that this will fuel growth in the number of telephone betting accounts. In addition, the Company has acquired 4 new pitches at Newcastle Rails, Catterick Rails, Newmarket Rails and Haydock Rails and sold one of its two pitches at Royal Ascot. The Company made approximately £25,000 from the sale and acquisition of these pitches. Following these purchases, the Company owns 43 pitches in prime positions at 25 horse racecourses across the UK and Ireland. Neville Porter, Managing Director of Neville Porter PLC said, "It is gratifying that we've been able to deliver evidence of our growth strategy to investors so soon after the IPO." Further information: Neville Porter plc 07968 768914 Neville Porter Brian Morton SVS Securities plc 020 7638 5600 Richard Morrison Peter Manfield ARM Corporate Finance Ltd 020 7512 0191 Ian Fenn Nick Harriss PGA & Co Ltd 07775 892 544 Peter Gaze
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