Evoke shares surge as revenue tops expectations

Finance News

Evoke PLC said full-year earnings for 2024 will surpass market expectations, with strong double-digit revenue growth in the fourth quarter driven by its online business.

The group, whose stable also includes 888 and Mr Green, reported that revenues in the final three months of 2024 rose by 12-13 per cent year-on-year, or 13-14 per cent in constant currency.

Online growth was even stronger, climbing 16-17 per cent (18-19 per cent in constant currency), bolstered by “operator friendly” sports results and the continued success of the Group’s strategy.

For the second half of the year, revenues are forecast to increase by around 8 per cent, near the upper end of the Group’s earlier guidance of 5-9 per cent growth.

Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) are now expected to reach the top of the Group’s £300-310 million guidance range, significantly ahead of market consensus.

Evoke noted that its robust performance was underpinned by strong cost control and a more efficient operating model. The company is due to report its full results later in the year.

RECOMMENDED