PRESS DIGEST - British business - March 6 =8

Wed Mar 5, 2008 11:54pm EST
 
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PartyGaming (PRTY.L: Quote, Profile, Research, Stock Buzz) lost 2.5 pence to 25 pence after chief executive Mitch Garber announced that he is leaving the group to return to North America with his family. Contracted until next year, he will leave early if a successor is appointed, though should he remain at the helm until then, he will pocket an estimated 14 million pounds via a controversial pay scheme. Garber expressed "great pride in the fact that the company is delivering on its business strategy and is in great shape to exploit its full potential in the future." PartyGaming's 2007 numbers revealed a pre-tax profit from continuing operations of $111.7 million on an EBITDA basis, chairman Michael Jackson saying that the group increased its range of products last year.

Prepared for Reuters by Durrants

 

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