British firm Best of the Best PLC (LON: BOTB) is the top performer so far on Thursday as its revenue soared and the company raised profit expectations.
The online car competitions company’s revenue jumped to £22.09 million in the six months ended the 21st of October, 2020, a rise of £7.6 million compared to the same period the previous year while its profit before tax was £6.8 million compared to £1.38 million in 2019. Earnings per share were 59.84p compared with 12.40p in 2019.
“These strong results reflect our successful move to a pure online model together with our increased confidence in marketing investment as we look to accelerate growth,” said William Hindmarch, BOTB’s Chief Executive.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
“Sales momentum since the period end has been encouraging, and we expect pre-tax profits for the full year to be materially ahead of management’s expectations. We look forward to updating shareholders with further progress in due course,” added Hindmarch.
BOTB declared a dividend of 40p per share to be paid on the 5th of February with the ex-dividend date on the 21st of January.
With encouraging sales and profits growth and completing the transition to an online-only business, the BOTB board said it now expects full-year pre-tax profits to materially exceed management expectations.
BOTB shares are currently trading 35% higher at 2110p.
