UK betting operator Ladbrokes profit fell hard in 2014 despite significant improvements in its much-maligned online offering.
Full-year revenue (excluding high-rollers and exceptional items) rose 3.8% to £1.16b but earnings fell 9.3% to £125.4m and profits fell 13.4% to £93.1m. The statutory numbers were much harsher, with earnings falling 71% to £66.2m and profit down 61% to £41m. Despite the carnage, Lads’ shares rose nearly 6% on Thursday to 121p.
Ladbrokes’ overall digital revenue …read more
Source:: Ladbrokes online operations improve but overall profits fall
Ladbrokes online operations improve but overall profits fall
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