Ladbrokes reports 6% drop in operating profits

Ladbrokes has reported a 6% year-on-year drop in first-half operating profits at its Irish operations.

As part of its interim results presentation yesterday, the British betting services giant said its business in Ireland — which covers 213 shops in the Republic, 79 in the North and a popular online presence — generated an operating profit of £6.3m (€7.3m) for the six months to the end of June. This was down from a figure of £6.7m for the corresponding period last year.

Irish net revenue, however, was up by 2% year-on-year to £41.3m.