Paddy Power disregards 'unfavourable' sporting results to predict gains for 2015

Paddy Power still expects its full-year operating profits for 2015 to show a mid-to-high single-digit percentage increase despite “unfavourable” sporting results since the beginning of July.

In a trading update on the second half of the year, the betting and gaming giant said group revenue increased by 9% on an annualised basis, with trading in line with expectations.

It follows a strong first half, where operating profits rose by 33%, year on year, to €80m and net revenue increased 25% to €528m.