I have been a supporter of Playtech since 2012. Since then there have only been 2 or 3 buy times. Now could be one of those times. A software developer for online gaming such as BET365. Most sales are from Europe followed by Asia. 3000 people are employed by Playtech throughout 12 countries.
Playtech sales, from their last report, are up and they say ‘we are confident of achieving our end of year expectations’.
Interest payments last year were high and their earnings growth saw a dip. Also, reported tax paid was low which could mean a higher tax bill next year. However, on the positive, they are a consistent and growing company that is short term debt free. They also showed a massive increase in profit at the half year point which could over ride any concerns.
The share price dropped a lot this month but seems to be recovering up again.