Ladbrokes Posts Loss for 2015

UK retail and online betting giant Ladbrokes has posted their full year 2015 financial results, noting that the company took a loss of £43.2 million due to tax liabilities in the UK.

Key financial indicators for the full year 2015 were:

  • A net loss of £43.2 million for the year, which is down from the £37.7 million the company made in profit last year.
  • Revenues up 2.1% to £1.2 billion
  • Taxes up by £50 million
  • £99 million in merger costs and write-offs
  • Digital Net Revnues up 12.9%
  • Australian operations saw a 65% increase in activity and 71% rise in net revenue

Commenting on his company's performance Ladbrokes CEO Jim Mullen said, "I am pleased to be able to report a good start to the delivery of the strategy outlined in July. Although it remains early days there is positive progress to report. In UK retail, self-service betting terminals are delivering growth, football is up and our retail team are delivering strong multi-channel growth."

"The full-year figures reflect the costs needed to undertake significant investment to deliver the strategy as well as facing circa £50 million of increased taxation."

"While it is pleasing to report that after two quarters we have made a good start, we are only at the beginning of the journey. Therefore, 2016 will see the same focus on winning more recreational customers, excellent operational delivery and a performance driven approach as the basis for delivering on our clear 2017 financial targets."

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23 February 2016 - 10:30pm

Obviously the increased taxes in United Kingdom are the reason for that huge loss of Ladbrokes, from what I've read they are not too concerned about that in the company and it's probably related to their growth in Australia with the remarkable 65%. Still couldn't be considered as too bad year for them despite that loss.