14/06/2004
After doubling pre-tax profits to £1.3m in the year to March, acquisitive bingo clubs operator Top Ten Holdings is on track for £1.8m pre-tax this year, say analysts. This could be swollen by first contributions from a newly-acquired club in Billingham, now being refurbished, which observers reckon could chip in a full-year £250,000 if 2,500 punters come through its doors, rising to £500,000 if the new look swells their numbers to 3,500 - either way a good return on a £750,000 investment. Top Ten is looking at another £1.5m acquisition in Wales that, if successful, it claims could make between £500,000 and £1m a year. Impending tax and regulatory changes to bingo are seen as likely to boost profitability. At 8p, several times their 2.5p float price and recommended by Company Insider in April at 7.6p, the shares should rally further.
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