Ladbrokes’ Irish profits rise to €4.96m

BOOKMAKING giant Ladbrokes’ Irish operations saw pre-tax profits soar 33% to €4.96 million last year, even though its Irish customers had a luckier time.

Ladbroke Leisure (Ireland) Limited took in more than €75 million in bets, a 9% increase, during the 12 months to December, according to accounts filed recently at the Companies Office.

However, the improved profits were more to do with operational improvements and better cost management than punters suffering poorer luck. The company’s gross profit, which consisted of the difference between amounts handed over by customers less winning bets paid out, nudged up just 4% to €10.76 million.