Paddy Power: Earnings will rise despite 20% profit drop
The betting services giant also said, yesterday, that it is progressing well in its hunt for a new CEO and is considering its first share buyback programme in six years.
A previously reported €10m hit from two disastrous weekends of English Premiership football results (one in January and the other in March) and, more recently a €14m hit from the Epsom and Ascot race meetings dragged down first-half figures, which yesterday showed a pre-tax profit of €61.6m; 20% down on the same period last year.
