UK-based Ladbrokes delivers solid results

The 20% rise in full year operating profit reported this week by UK gambling group Ladbrokes plc should keep the shareholders happy. The land and online gambling group made an operating profit of £202.3 million pounds in 2010, up from £168.5 million the year before, thanks mainly to the popularity of new gambling machines and in-play betting.

Market expectations had ranged between £186 and £204 million with the consensus at £195 million, according to a Thomson Reuters poll of 16 analysts.

The company announced preliminary results for the year ended 31 December 2010, posting profit attributable to equity holders of £348.3 million or 38.4 pence per share, well up from £74.4 million or 9.9 pence per share last year.

Profit for the year - continuing operations was £375.4 million, compared to £146.4 million in the prior year. Profit before taxation was £147.1 million, lower than £174.1 million a year ago, whilst pre-tax profit increased to £193.3 million from £191.3 million in the previous year.

However, revenue declined to £980.1 million from £1.03 billion in the prior year.

The Board has announced a final dividend of 3.75 pence per share taking the full year dividend to 7.60 pence per share.

Source: InfoPowa News

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