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Monday, 21st July 2008

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Ladbrokes scores profits rise



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ENGLISH dominance of the Uefa Champions League has helped bookmaker Ladbrokes to post better-than-expected trading figures.
With three teams in the semi-final and Manchester United and Chelsea contesting the tightest Premier League in years, Ladbrokes today said it had seen "particularly strong growth" in football turnover so far this year.

The improvement coincided wi
th the company's first television advertising campaign, featuring ex-players Ian Wright, Ally McCoist and Lee Dixon.

The amount left by losing horse racing punters was slightly lower, which Ladbrokes said was due to strong comparatives with a year earlier and the impact of joint-favourite Comply or Die's win in the Grand National.

Overall, the group said profits were up by 13 per cent in the first four months of the year, excluding a £40 million boost from the company's high-rolling customers. Shares jumped by 4 per cent following the trading update.

Chief executive Chris Bell said: "Gross win grew strongly during the period, and, whilst our business sees no evidence of a consumer downturn, we remain mindful of general economic conditions."

Ladbrokes said its over-the-counter gross win - the amount left behind by losing punters - increased 4 per cent, mainly because of increased demand in football.

Revenues from gaming machines increased by 26 per cent as Ladbrokes benefited from the roll-out of new dual screen machines in March last year. New gaming content and extended evening opening hours also helped, although the longer hours also contributed to a 12 per cent increase in UK retail costs.

The e-gaming arm achieved revenues growth of 24 per cent during the period, with customer sign-ups growing 27 per cent.





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  • Last Updated: 16 May 2008 9:43 AM
  • Source: n/a
  • Location: Yorkshire
 
 

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