Alexa
  • Directory of Taiwan

Ladbrokes says first-half profit more than halved on lack of World Cup

Ladbrokes says first-half profit more than halved on lack of World Cup

Bookmaker Ladbrokes PLC said Thursday that first-half profit more than halved compared with the same period last year when the company benefited from the soccer World Cup.
Net income plunged to 131.3 million pounds (US$266.2; euro193.4 million) in the six months through June 30 compared with 517.5 million pounds in the same period a year earlier the company said in a statement. Revenue rose 19 percent to 600.9 million pounds (US$1.2 billion; euro884.9 million).
In addition, the company said Brian Wallace is replacing Rosemary Thorne as finance director.
"Italy represents the most progressed opportunity amongst our international development plans and our first acquired shops are now open," the company said. "We have submitted our application to operate in Madrid, Spain and we are advanced in our preparations to bid for Taiwan's new sports lottery."
Ladbrokes shares dropped 3.7 percent to 389.75 pence (US$8.02; euro5.62) on the London Stock Exchange.