Cheltenham boosts Ladbrokes revenue

Favourable results from last month’s Cheltenham Festival drove first-quarter net revenue up by almost 20% at the Irish operation of Ladbrokes.

On a group-wide basis, the British bookmaker saw net revenues rise by just under 9% year-on-year over the first three months of this year. Group operating profit was up by 3.9% at £50.4m (€62m); driven by growth in its British and European retail divisions.

The group’s chief executive, Richard Glynn, said that the quarter had been “another period of progress” for the company and that it is in line with expectations for the full-year.