Ladbrokes Publishes H1 2016 Profits Showing Accelerated Growth
Ladbrokes Plc governance has published this year’s H1 results, stating that its ongoing corporate strategy has seen it deliver an “accelerated multi-channel” growth on all core metrics.
The bookmaker would close H1 ending 30th June 2016, recording group revenues of £661 million with an increase of 13% compared to the £585 million from same period last year.
Reversing its H1 2015 losses of -£37 million, the revenue uplift would see the operator post an operating profit of £37.7 million. Ladbrokes would record pre-tax profits of “25 million, maintaining its strong start in 2016, as it reverses 2015’s corresponding £50 million group losses.
Commenting on the H1 2016 performance, Ladbrokes Chief Executive Jim Mullen said: “These strong numbers show customers are responding positively to the new strategy at a time when the sporting gods have generally been on our side and we’ve enjoyed some helpful bookmaker friendly results. This combination has helped boost profits in the first half of the year.”
He went on to say: “We will continue to compete hard on pricing, product and customer services and maintain a relentless focus on meeting and exceeding customer expectations. With the merger on the horizon we recognise there is a lot of hard work still to come, but this is an exciting time for Ladbrokes and we approach the opportunities ahead with a strong sense of confidence.”
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