Blackstone-backed gambling firm Cirsa rises after guidance hike
Shares in Blackstone-backed gambling company Cirsa CIRSA.MC rise around 4% after the firm swung to third-quarter net profit and updated its full-year guidance
Cirsa's net profit stood at 15.2 million euros ($17.5 million) in the quarter, compared to a loss of 10.3 million euros a year ago
The Barcelona-based firm also upgraded its full-year core earnings forecast to between 750 million and 753 million euros, instead of the previously guided 740-750 million euros
The results "highlight ongoing underlying momentum", Jefferies says, adding that the recent weak share price performance is at odds with the confident full-year guidance upgrade
Including the session's gains, shares are down around 14% since Cirsa was listed in July by private equity giant Blackstone BX.N in an IPO that valued it at 2.52 billion euros
($1 = 0.8676 euros)
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