Analyst Views: How impressed were you with Betfair’s annual results?

 
Oliver Smith
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JAMES HOLLINS | INVESTEC
We are unlikely significantly to adjust full year 2015 earnings estimates. Although the market may be disappointed at no special dividend, we think it will come in the near term (revenue rising and costs very much under control due to actions by the relatively new management). We stay at Hold.

NICK BATRAM | PEEL HUNT
These were a good set of numbers and reflect a strategy that is beginning to deliver. We have always believed the combination of a decent sportsbook offering with the exchange is a real differentiator in a competitive market. However, the reality remains that the point of consumption tax will hit the group hard.

DAVID JENNINGS | DAVY
With an improved gaming product now in place and a broadening mass-market appeal, there is every reason to believe that Betfair can achieve accelerated growth. We retain our neutral rating, based on what we consider to be a fair valuation for the group at present.

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