- NEWS
Shatter: Garda chief told me about WallaceEmbattled Justice Minister Alan Shatter said the Garda commissioner gave him details about TD Mick Wallace escaping penalty points and that he publicly revealed it to defend the integrity of the force.
Panicked last minutes aboard the Tit Bonhomme revealed at inquest Rarely has a voice ever carried so much panic.
- WORLD
Horror and heroism as tornado wreaks havocThe search for survivors and the dead in the Oklahoma City suburb raked by a massive tornado was almost complete last night.
Chile miner happy to be played by Banderas in filmAntonio Banderas will star in a movie as one of the 33 Chilean miners trapped deep underground for more than two months in 2010, and the charismatic survivor he's playing couldn't be happier.
- BUSINESS
Smooth exit from bailout forecastIreland is heading for a smooth exit from the bailout programme as GDP grows — delivering a huge political and reputational reward for the country, according to the latest Ernst & Young Economic Eye.
Glanbia’s Talbot first woman to take helm at a major Irish food companySiobhan Talbot is set to succeed John Moloney as group managing director of Glanbia, at the end of this year — becoming the first woman to head up a major Irish food company.
- SPORT
Deegan in dock over advantage ruleArmagh's Jamie Clarke has cleared Paul Grimley of all responsibility for Sunday's defeat by Cavan, but questioned referee Maurice Deegan's decision not to allow him advantage in scoring his second-half disallowed goal.
One more year and that’s it, insists O’DriscollBrian O'Driscoll has ruled out extending his career beyond next June.
- LIFESTYLE
Tyranny of the majorityIn the play An Enemy of the People, one man stands for right, says Pádraic Killeen.
Opening a can of wormsThe UN thinks it's a good idea, but what do the Irish think of eating creepy crawlies, wonders Jonathan deBurca Butler.
11-14C
Live Blogs
- We have no upcoming events at the moment. Please check 'Recent Events' tab for past events
Breaking stories
Ladbrokes operating profit rises by 76%
The Irish arm of British bookmaker Ladbrokes grew its operating profits by 76.3% and net revenue by nearly 5% in the first half of this year.
By Geoff Percival
Ladbrokes Ireland’s revenue for the six months to the end of June amounted to £40.5m (€51.6m), while operating profits came in at £6.7m. Gross win — the amount the company took from punters’ losing bets — in Ireland grew by 4.8% to £41.7m, but the total amount of money bet by customers here, during the period, was down by nearly 7% on a year-on-year basis to £356.8m. Ladbrokes said the current economic downturn, coupled with a “highly competitive trading environment” led it to place most of its emphasis in Ireland on cost cutting. Over the six months, the company managed to lower its operating costs here by 2.3% — or £700,000 — to £30m. It said this was down to improvements in “shop efficiency”.
Ladbrokes currently owns 214 shops in the Republic, with a further 79 in the north. Operating profit for the group’s international division — which includes Ireland, along with its operations in Spain and Belgium — rose by over 94%, to £10.3m, meanwhile.
Overall, Ladbrokes delivered an 11% year-on-year rise in first-half operating profits, to just under £107m, while group net revenue grew by 8.4% on the corresponding period last year, to £529m. However, this growth mainly came from its British-based retail business as profits from its digital platform — online and mobile betting — halved to £15m.
Digital profits were hit by a delay in the company’s technology upgrades, but group chief executive, Richard Glynn said management is committed to its digital strategy, which will be improved in the second half of the year. He also said that the programme of shop openings will be accelerated.
Group pre-tax profits were up by 44.4%, to £110.6m, in the first half, while net debt levels were reduced by a further £57m to £397m and the interim dividend was raised by over 10% to 4.30p.