This article is from the source 'independent' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.independent.co.uk/news/business/news/ladbrokes-profits-jump-61-bookmaker-friendly-results-coral-a7171346.html
The article has changed 4 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Ladbrokes profits jump 61% on ‘bookie-friendly’ Leicester win and Euro 2016 exits | Ladbrokes profits jump 61% on ‘bookie-friendly’ Leicester win and Euro 2016 exits |
| (5 days later) | |
| British bookmaker Ladbrokes reported surging pre-tax profits, up 61 per cent to £39.7m on Thursday, helped by some favourable sporting results. | British bookmaker Ladbrokes reported surging pre-tax profits, up 61 per cent to £39.7m on Thursday, helped by some favourable sporting results. |
| The company recorded pre-tax profit of £25.2m, in the six months to June, compared with a pre-tax loss of £51.4m recorded in the year ago period. Revenue was at £661.8m from £588.8m. | The company recorded pre-tax profit of £25.2m, in the six months to June, compared with a pre-tax loss of £51.4m recorded in the year ago period. Revenue was at £661.8m from £588.8m. |
| The bookmaker enjoyed a 15 per cent rise in the number of football bets, in part due to the surprise success of Premier League underdogs Leicester City, last season. | The bookmaker enjoyed a 15 per cent rise in the number of football bets, in part due to the surprise success of Premier League underdogs Leicester City, last season. |
| Ladbrokes said the “sporting gods” had been on its side as it benefited from a series of favourable results at Euro 2016. The company enjoyed a windfall owing to the early exit of England, Northern Ireland and the Republic of Ireland, which punters wagered large amounts on. | Ladbrokes said the “sporting gods” had been on its side as it benefited from a series of favourable results at Euro 2016. The company enjoyed a windfall owing to the early exit of England, Northern Ireland and the Republic of Ireland, which punters wagered large amounts on. |
| Jim Mullen, Ladbrokes' chief executive, cautioned against over-optimism, however: “History would strongly dictate that such a run of results in our favour would see customer staking suffer, but encouragingly these numbers firmly buck that trend and combine strong staking and a good margin.” | Jim Mullen, Ladbrokes' chief executive, cautioned against over-optimism, however: “History would strongly dictate that such a run of results in our favour would see customer staking suffer, but encouragingly these numbers firmly buck that trend and combine strong staking and a good margin.” |
| He added: “We will endure a run of customer-friendly results and margins will normalise.” | He added: “We will endure a run of customer-friendly results and margins will normalise.” |
| Ladbrokes’ digital division posted the strongest results, with revenues up 41 per cent. The UK retail business also grew sales by 6.4 per cent. | Ladbrokes’ digital division posted the strongest results, with revenues up 41 per cent. The UK retail business also grew sales by 6.4 per cent. |
| The bookmaker received regulatory approval for a £2.3bn merger with Coral in July but the pair must sell around 400 betting shops to assuage fears about lack of competition in the sector. | The bookmaker received regulatory approval for a £2.3bn merger with Coral in July but the pair must sell around 400 betting shops to assuage fears about lack of competition in the sector. |
| The combined company will become the largest bookmaker in the UK. Ladbrokes said it had started looking for potential buyers and aims to complete the bidding process by September. | The combined company will become the largest bookmaker in the UK. Ladbrokes said it had started looking for potential buyers and aims to complete the bidding process by September. |
| The company maintained its 1p dividend. | The company maintained its 1p dividend. |
| Despite the caveat, the firm said it had slightly raised its full year expectations. Shares rose 5 per cent in early trading before dropping back to a 2.8 per cent gain. | Despite the caveat, the firm said it had slightly raised its full year expectations. Shares rose 5 per cent in early trading before dropping back to a 2.8 per cent gain. |