Irish betting giant has released its interim management statement for the period July 1st to November 14th, 2012, highlighting a 23% rise in net revenue for the period.
Key financial indicators for the period ending November 14th were:
Group sportbook amounts staked up 20%
Group total net revenue, up 23%
Net cash availability of around €169 million at 14 November, excluding customer balances.
Online (ex Australia ) :
Paddy Power.com (ex Australia ) sportsbook amounts staked increased by 28%.
Paddy Power.com (ex Australia ) sportsbook net revenue increased by 26%.
Gaming/B2B net revenue growth grew 14%
Total net revenue increased by 21%
Mobile betting is positively impacting online turnover growth and sportsbook gross win percentages for the Group. In October, mobile turnover as a percentage of total online sportsbook stakes was 27% in Australia (June 2012: 25%) and 45% in paddypower.com (June 2012: 41%).
The most rapid mobile penetration continues to occur in gaming with mobile gross win in October accounting for 28% of Paddy Power Casino (June 2012: 19%) and 25% of Paddy Power Games (June 2012: 20%).
Online turnover derived from Australian operations continued its strong upward growth trend increasing by 24%.
Online net revenue increased by 39%
Total net revenue increased by 34%