Playtech leaps by 71% on web betting boom
11 April 2012
You may not be familiar with Playtech, but if you like a punt online there's a good chance you use its products.
Playtech devises software for Paddy Power, BetFred and Victor Chandler among others, which is in demand as the internet betting boom continues.
Today the firm announced a 71% jump in profit for 2009 to 69 million (£63 million) and raised its full year divi by 20% to 18.3 cents.
Playtech shares, which have gained 35% in value over the past 12 months, added another 9p to 511.5p.
The company has a market capitalisation of £1.21 billion, making it the biggest on AIM. Execution Noble has a buy rating on the stock with a 585p price target.
