Flutter soars on high sales as it prepares to list in US

ShareS in Flutter soared after the Betfair and Paddy Power owner reported higher sales and said it was on track to list in New York this month.

The gambling giant’s revenues leapt by almost a quarter last year, sending shares surging 15.3pc, or 2025p, to 15,225p.

revenue rose 15pc to £2.7bn in the final three months of 2023, with sales up 24pc to £9.5bn across its financial year – even as its US business was hit by huge payouts on american football games.

Flutter said it remains on track to start trading shares in New York this month, while keeping its primary listing in London.

Chief executive Peter Jackson said: ‘This is a pivotal moment as we make Flutter more accessible to US investors and gain access to deeper capital markets.’

Ladbrokes and Coral owner Entain was up 6.1pc, or 54.8p, to 949.6p. But William hill owner 888 only managed a 1.3pc, or 1.05p, rise to 80.8p.

The FTSE 100 inched up 0.2pc, or 12.80 points, to 7459.09 and the FTSE 250 rose 0.4pc, or 83.67 points, to 18,948.04.

Harbour Energy, Britain’s biggest North Sea producer, was knocked back following a drop in revenues and production in 2023.

It expects output to fall again this year due to planned shutdowns alongside the possible sale of its Vietnam business. Shares shed 8.8pc, or 27.8p, to 289p.

Mike ashley’s retail empire strengthened its grip on Boohoo.

The latest stock market filing showed the fashion firm’s top shareholder Frasers Group, which owns brands such as Sports Direct and Jack Wills, raised its stake to 21.49pc from 17.22pc. Frasers slid 0.1pc, or 1p, to 792p while Boohoo rose 0.03pc, or 0.01p, to 34p.

an aIM- listed smart meter installer that works with British Gas is on the verge of being gobbled up by a Wall Street private equity firm.

Smart Metering Systems (SMS) last month told investors to back a £1.3bn offer from KKr, which was a 40pc premium on the preoffer share price, only to be attacked by SMS’s top shareholder and founders alan Foy and Steve Timoney.

Today, KKr said its takeover offer, which needs approval from more than 50pc of shareholders, was final. Shares gained 5.6pc, or 50p, to 950p.

Iron ore miner Ferrexpo will pay an interim dividend to investors and hand a salary increase and bonus to its workers in Ukraine after its results for 2023 were better than expected. Shares jumped 16.9pc, or 12.25p, to 84.65p.

Builders’ merchant Travis Perkins axed an unspecified number of jobs at the end of last year and further cuts are on the way in the face of a construction slowdown. It rose 5.6pc, or 41.6p, to 781.4p.

Troubled music firm Hipgnosis Songs Fund hopes to lure potential buyers by paying them a lump sum. It has proposed handing up to £20m to any bidder who makes an approach that could be recommended to shareholders. Shares rose 1pc, or 0.7p, to 71p.

Sage revenue rose 10pc to £573m in the three months to the end of December as it cashed in on offering technology and aI to small and medium-sized businesses. It rose 0.4pc, or 5p, to 1160.5p.

Government contractor Capita – up 2.8pc, or 0.52p, to 19.32p – has sold all the businesses it no longer considers essential.

The group, which collects the BBC licence fee, pocketed £62m for offloading its 75pc stake in Fera to a fund managed by private equity firm Bridgepoint.

at AJ Bell customer numbers and assets under management rose. Boss Michael Summersgill said last year’s challenges were starting to wane. Shares gained 5.6pc, or 16.6p, to 313.8p.