BOOKMAKER Paddy Power has appointed Greencore chief financial officer Patrick Kennedy as its next chief executive.

THE outgoing chief executive of Paddy Power plc, John O’Reilly, received a pay rise of almost 90% last year, bringing his 2004 pay package to €883,000, up from €466,000.

PADDY POWER bookmakers have shrugged off a losing streak in December, saying 2004 profits had risen by 57%.

IT was doubles up for Brian Kerley at City West yesterday as he topped the leader board after the PGA Trainees’ pro-am tournament on the Lakes Course and also led in the winning Paddy Power team.

A STRING of losing favourites at the Cheltenham festival helped push out pre-tax tax profits at bookies Paddy Power by 158% in the first half of the year.

The ISEQ index of Irish shares roared ahead as it added 90.10 points today to close at 5,540.62, after a number of heavy-hitters released results to the market.

The ISEQ index of Irish shares climbed 21.27 points to 5471.79 today, after a number of heavy-hitters released results to the market.

Paddy Power Bookmaker has announced record interim results for the six months to June 30, thanks to a turn of luck for the worse among punters.

DIRECTORS at Paddy Power receive a 35% pay rise last year but employees at the bookmakers saw their average pay increase by 19%.

BOOKMAKERS Paddy Power came a cropper at the Grand National and Cheltenham with a winning streak by punters, slashing a full €4 million off expected operating profits for the first six months of the year.

IRISH punters will wager between €80 million and €100 million in betting offices over the three days of the Cheltenham racing festival, which starts today.