Paddy Power announces record results

Leading bookmaker, Paddy Power plc, today announced record turnover, operating profit and earnings per share for the year ended December 31, 2003.

Its total turnover for the year increassd 36% on last year, to €913.6m.

The group opeating proft was €19.6m, up 15%, while profit after tax was €17.6m, 19% higher than 2002's figure of €14.8m.

Earnings per share reached 36.97 cent, an increase of over 5 cent (18%) on last year.

John O'Reilly, chief executvie of Paddy Power plc said: "Our development strategy for Ireland and the UK is very much on track.

"Our core business, the Irish shops, has grown significantly through new openings, relocations and extensions."