In its audited preliminary results for the year ended 30 April 2006, Stanley Leisure plc has announced that for continuing operations its turnover is up 2% to £224.8 million and its profit before tax and exceptional items up 97% to £31.9 million. The exceptional items refer to gains or losses on disposal or closure of businesses, fixed asset write offs and finance expenses relating to disposals. The company also reports that provincial attendance is up 17% and that it has been granted three new licences. Five further licences are being progressed and two have been relocated.

Chief Executive Bob Wiper commented, “I am pleased to report another satisfactory performance for the Group in a strategically important year.” He added, “We have made significant progress in our five year development programme and this combined with Stanley Leisure’s strong pipeline of new licences, positions the Group well to capture further benefits arising from deregulation.”

As a consequence of the sale of Stanley’s Retail Betting Operation in June 2005, the company is now predominantly a gaming operator, the largest in the UK with 41 provincial casino licences, 4 in London and approval for 3 out of 8 still in the pipeline. However, Stanley’s Gaming Division saw a 1% fall in turnover, caused by depressed results in the first half after security issues in London affected the casinos there. Record growth in the provinces was fuelled by deregulation in October 2005 and the removal of the 24-hour membership rule. Stanley intends to apply for all 17 licences to be issued under the Gambling Act 2005.

Turnover was up 27% in the company’s International Betting operation. Record levels of business were recorded during the FIFA World Cup but, as much of the business was generated through the Italian agents, the results led to a negative contribution. Talks are ongoing over a possible merger of Stanley with London Clubs International but there is no certainty that a transaction will follow. The Stanley Leisure Board is proposing a final dividend of 8.3p, an increase of 11% on the previous year. The total dividend for the year is 11.6p, a 10% increase on the total dividend of 10.5p in 2005. (E-07.20.06)

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