Ladbrokes Coral Financials Up in First Half

UK online and retail betting group Ladbrokes Coral has released their first half 2017 financial results, noting that revenues were up sharply during the period.

Key financial indicators for the first half ending June 30th, 2017 were:

• Digital revenes up 17% from the same period last year.
• Sportsbetting revenues up 25%, with the amount wagered up 27%
• Retail revenues down 6% from last year
• OTC gross margin down £3.6 billion, blamed on bad performance in Italy
• Predicted savings of £150 millon due to the merger of the two companies, up from the previously forecasted £100 million.

Speaking about his company's performance Ladbrokes CEO Jim Mullen said, "Ladbrokes Coral posted a strong performance in H1 with results in line with our expectations and another significant upgrade to synergies, which at £150m will now be well over double the level initially announced."

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