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Paddy Releases Positive Interim Report

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:

  • 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%).

Australian Operations:

  • 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%

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