Bookmaker’s profits fall 28% after ‘difficult year’

Operating profits at Ladbrokes’ Irish operations fell by over 28% last year, to £10.2m (€12.4m), hampered by general economic trends and the continuation of what the company called “a highly competitive trading environment”.

In what Ladbrokes referred to as “a difficult year” for its Irish operations, its operating costs here rose by nearly 7% to £62.3m.

Net revenue was up by 1.1% at £80.9m, with gross win marginally up by just under 1% to £83m.