Stanley suffers from punter caution
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.STANLEY Leisure, the betting shop and casino operator, has seen profits fall in what its chairman called the worst trading period of his life, writes Robert Cole.
Stanley made pounds 3.5m pre-tax profits in the six months to 1 November, down from pounds 3.7m previously.
Leonard Steinberg, chairman, said: 'The first six months of this trading year were the most difficult I have experienced in 38 years in the gaming industry.'
Problems stemmed from the scarcity of spare cash in punters' pockets. The size of the average bet in the bookmakers barely moved, at pounds 3.40 against pounds 3.38, and the average spend in the casinos stuck at pounds 84. Difficulties were exacerbated by a period in mid- summer when racing results went against the management.
Turnover increased to pounds 108m from pounds 100m, but only because Stanley enlarged its chain of turf accounting offices. In Scotland next month, Stanley takes possesion of 26 new sites currently owned by Surrey Racing.
Earnings per share fell to 5.48p from 5.82p. The dividend, after adjusting for a bonus issue of shares in September, was unchanged at 1.52p.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments