Annual Report & Accounts 2014 - REPORT OF THE GROUP FINANCE DIRECTOR
ANNUAL REPORT 2014 16
rEport oF thE GroUp FINaNcE DIrEctor continued
the fair value has been discounted to reflect this. accordingly, the put valuation results in a modest non-cash
impairment. the options are required to be revalued at each reporting date.
during the year, the charge to operating costs within the income statement from realised and unrealised
foreign exchange was €0.3 million. in addition the william hill loan is denominated in sterling (£4.6 million)
and incurred an unrealised loss of €0.5 million included within financial expenses. many non-euro currencies
are handled by the group's payment processing intermediaries up-front.
additionally, the net current assets of the group are revalued each month at month-end exchange rates and
this also results in exchange gains and losses. the principal revaluations are for customer liabilities, although
these are now largely currency matched to produce a natural hedge.
Future trading updates and financial calendar
it is anticipated that gvc will make further announcements on or around the following dates:
w/c 23 march 2015 - publication of report and accounts on the company's website, www.gvc-plc.com
7 april 2015 - posting of r&as and notice of agm
5 may 2015 - agm trading update, result of agm
6 may 2015 - payment of final dividend
w/c 6 July 2015 - h1 trading update and announcement of dividend
w/c 18 august 2014 - payment of quarterly dividend
w/c 21 september 2015 - interim results
group finance director
20 march 2015