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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gamingking | LSE:GGK | London | Ordinary Share | GB0005350524 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.775 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9703R Gamingking PLC 27 February 2007 Gamingking Plc (the "Company") Trading Update The Company has noted the recent increase in its share price, but does not know of any cause for this change. The Company can also confirm that it is not currently involved in any negotiations with regard to takeover or merger activity, nor has it recently been approached concerning the same. Whilst it has not been Gamingking's policy to provide trading updates other than at the release of full-year and interim results, the Company would like to take the opportunity to issue an update at this time. Trading conditions in the third quarter to 31 January continued to be challenging. Sales for the period were lower than the same quarter in the previous financial year. The Company has attempted to address this through a restructure of our sales team, including additional recruitment, in an effort to increase turnover and market share. As communicated in our chairman's interim statement, the board has taken action substantially to reduce overheads and in particular direct and indirect group costs. The cost reduction programme will provide savings in the second half of the current financial year. Finally, with regard to projects and product development, the Company continues to develop a number of new initiatives and product concepts. The Reel Winner (a retro one-armed bandit redesigned as a lottery machine) is currently undergoing trials in a number of clubs, and initial results are encouraging. It was also exhibited at the ATEI show in London in January 2007, where it generated some interest. Whilst some uncertainty exists as to the regulatory regime under which the Reel Winner will operate post September 2007, the Company is extending the range and scope of these trials in the coming months. It is not, however, anticipated that this (or other current product developments) will have a significant effect on this year's financial performance. This information is provided by RNS The company news service from the London Stock Exchange END TSTUBVVRBARUUAR
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