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Paddy Power Reports Record Turnover For 2013

Irish betting firm Paddy Power plc has announced that it achieved a record number for betting turnover of €6.2 billion last year, while raking in profit of €137 million.

The announcement was made during the firm's annual shareholder meeting by company Chairman Nigel Northridge, who also revealed that net revenue increased 17% for the year.

Speaking to the assembled shareholders Northridge said: "The proposed final dividend makes for a total 2013 dividend of 135 cents per share, an increase of 13 percent. Last year was also a year of continued significant investment in product, marketing, technology and people, in line with our long term strategy, and we are further increasing that investment this year."

Northridge went on to say that Paddy Power is starting 2014 off well, with growth accelerating during the first quarter of the year, with sportsbetting wagers up 20% when compared to the same period last year.

For the year, online bets were up 20% company wide, and up 19% is Australian numbers are not included.

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