Best of the Best stocks fall 30% despite tripling profits as the company warns of falling interest in its auto competitions since the lockdown was eased
- Pre-tax profit increased to £ 14 million for the year ended April 30, compared to £ 4.2 million a year earlier
- BOTB has its final dividend of 3p. increased to 5 cents per share
- Investors are also expecting a 50p special dividend worth a total of £ 4.71 million
- But the company’s shares had fallen to £ 19 by midday Wednesday
Best of the Best’s shares plummeted around 30 percent after the online competitor company said it recently saw a decline in customer interest, overshadowing its excellent full-year results.
Best of the Best, which specializes in luxury sports car raffles where people buy tickets in hopes of winning expensive cars, have more than tripled wins over the past year, results show.
Pre-tax income rose to £ 14 million for the year to the end of April, up from £ 4.2 million a year earlier, after revenues rose from £ 17.8 million to £ 45.7 million.
Outstanding Achievement: Best of the Best, which specializes in