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Ladbrokes Posts Strong Half-Year Results Ahead of Merger
- Updated: August 4, 2016
British gambling giant Ladbrokes announced its half-year results to the London Stock Exchange today, and they make happy reading for investors in the company.
“Helpful bookmaker friendly results,” such as England’s early exit from the 2016 European Championships in France, helped Ladbrokes’ group operating profit increase by 34.4 per cent to £52.3 million compared to the same period in 2015.
Net revenue increase 12.4 per cent compared to 2015 to £661.8 million, helped by a huge 40.9 per cent increase in Ladbrokes’ digital division, a 6.4 per cent growth in its UK Retail arm, and a 7.3 per cent rise in its European betting shops.
Jim Mullen, Chief Executive of Ladbrokes, welcomed the positive results, but was quick to bring investors’ expectations back to Earth stating, “130 years of experience in sports betting has shown us that we will endure a run of …
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