Paddy Power Breaks More Records

PADDY POWER BREAKS MORE RECORDS

05th March, 2013 at 03:06:28
Source: http://www.azonlinecasinos.com

Online action helps to deliver a strong performance over he 2012

The online and land gambling group Paddy Power plc enjoyed a record breaking 2012, judging by its FY 2012 results posted Tuesday, which included the following highlights:

Group:

* Record profit before tax, up 15% to Euro 139.2 million and diluted EPS up 17% to 248.1 cent;

* Net revenue growth of 25% in constant currency and increased revenue in every division;

* Four new online ventures with start-up losses of Euro 20.5 million;

* Dividend growth of 20% to 120 cents per share for the year proposed with a 16% increase in the final dividend to 81 cents per share;

* Strong balance sheet with net cash of Euro 209 million (or Euro 153 million excluding customer balances) at 31 December 2012.

Online achievements included:

* Accelerated growth, off a bigger base, with customer acquisitions up 51 percent, active customers up 44% to 1.6 million and net revenue up 31% in constant currency to Euro 410 million.

* Operating profit up 8% to Euro 102.1 million (up 27% before investment in new ventures):

* Online (exc Australia): customer acquisition up 48 percent, active customers up 44% to 1.3 million and net revenue up 27% in constant currency. Operating profit up 23% before investment in new ventures;

* Online Australia: customer acquisition up 62 percent, active customers up 43% and net revenue up 41% in constant currency. Operating profit up 35% to Euro 30.8 million;

* Leading mobile market shares: mobile net revenue up 185% in constant currency to Euro 129 million or 32% of online revenue, with 61% of active sportsbook customers and 30% of active eGaming customers transacting via mobile last (February) month;

* Entry into the Italian online market in May, ending 2012 with in excess of 5% of the online sports betting market, top 5 spontaneous brand awareness and a casino product 'live';

* Further significant investment in the firm's social media strategy with a twelve-fold increase in Facebook fans and Twitter followers to over 1.3 million.

Retail highlights included:

* UK Retail like-for-like net revenue up 7% in constant currency and operating profit up 46% to Euro 15.3 million. UK Retail estate now 217 shops with a record 44 shops opened in 2012;

* Irish Retail operating profit up 32% to Euro 14.4 million, driven by the normalisation of sports results. Like-for-like, net revenue up 7% and stakes down 2 percent.

Chief executive officer, Patrick Kennedy, said Tuesday:

"This has been another strong year for Paddy Power. Our turnover grew by 25% to Euro 5.7 billion as payback from ongoing investment continued to deliver growth across the Group.

"Online goes from strength to strength. The adoption of mobile across our markets, combined with our e-commerce capabilities, technology and brand, means we now have nearly twice as many active online customers than we had in 2010. We also expanded our social media activities, and opened 44 new shops in the UK.

"Trading in January to February has been strong and has also benefitted from favourable sports results. Sportsbook amounts staked are up 19% and total net revenue is up 34% in constant currency. However, current exchange rates, if they continue, could reduce operating profits by approximately Euro 10 million this year.

"We're well positioned in attractive and growing markets through sustained investment and strong capabilities and, as a consequence, look forward to 2013 and beyond with confidence."

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