Paddy Power profits rise 54%

PADDY POWER enjoyed a strong return to growth during the first half of the year, with pre-tax profits up by 54% on the same period last year and earnings per share rising by 31%.

The leading Irish bookmaker yesterday reported pre-tax profits of €52.5m and underlying earnings per share of 82.2c, for the first six months of the year.

The strong showing — which also included a 53% increase in gross win to €205.6m — was driven by good takings from the Cheltenham Festival and the World Cup in South Africa.