Ladbrokes Posts 20 Percent Rise In Fy Operating Profit

LADBROKES POSTS 20 PERCENT RISE IN FY OPERATING PROFIT

17th February, 2011 at 02:29:40
Source: http://www.azonlinecasinos.com

UK betting group delivers results at the upper end of expectations

The 20% rise in full year operating profit reported this week by UK gambling group Ladbrokes plc should keep the shareholders happy. The land and online gambling group made an operating profit of 202.3 million pounds in 2010, up from 168.5 million the year before, thanks mainly to the popularity of new gambling machines and in-play betting.

Market expectations had ranged between 186 and 204 million with the consensus at 195 million, according to a Thomson Reuters poll of 16 analysts.

The company announced preliminary results for the year ended 31 December 2010, posting profit attributable to equity holders of 348.3 million or 38.4 pence per share, well up from 74.4 million or 9.9 pence per share last year.

Profit for the year - continuing operations was 375.4 million, compared to 146.4 million in the prior year. Profit before taxation was 147.1 million, lower than 174.1 million a year ago, whilst pre-tax profit increased to 193.3 million from 191.3 million in the previous year.

However, revenue declined to 980.1 million from 1.03 billion in the prior year.

The Board has announced a final dividend of 3.75 pence per share taking the full year dividend to 7.60 pence per share.

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