JPJ Group raises its profit forecast, stock jumps
JPJ said it was ‘confident’ performance for the full year would be at the upper end of current market expectations owing to ‘strong’ growth at Vera&John across a number of international markets.
‘Overall, the Board is confident that the group will report FY 2018 revenue and adjusted EBITDA (earnings) at the upper end of current market expectations for the period,’ the company said.
The upbeat outlook comes despite a stricter regulatory backdrop for gambling companies following the introduction of enhanced responsible gambling measures in the UK.
‘We are pleased with the performance of the Group during 2018, as we continue to take advantage of the growth opportunities present in international markets, notwithstanding what has been a challenging regulatory backdrop in the UK. We enter 2019 in a strong position to deliver further growth and to create value for shareholders, said Neil Goulden, Executive Chairman.