Ladbrokes buoyed by high-rollers

A surge in revenues from big-spending telephone punters helped Ladbrokes overcome a dip in profits at its UK betting shops today.

The group saw half-year operating profits increase 29% to £195m (€288m), aided by a three-fold rise at its telephone betting arm after revenues from high-rollers surged to £95.3m (€141m) from £13.3m (€19.6m) a year earlier.

Operating profits at the UK retail arm fell 11.6% to £100.9m (€149m), reflecting tougher comparisons against the football World Cup in 2006.

Fixed-odds betting terminals, which were fully rolled out earlier this year, helped offset some of the weakness in over-the-counter betting.