Paddy Power Betfair Revenues Surge in 2017

Internet betting group Paddy Power Betfair has revealed their 2017 financial results, with revenues being reported as jumping 13% from 2016.

Key financial indicators for the year ending December 31st, 2017 were:

• Revenues of £1.75 billion, up 13% from last year
• Sportsbetting numbers up 16% from 2016
• EBITDA up 18% to £473 million
• Operating profit up 19% to £392 million
• Earnings per share of 398 pence, up 20%
• Dividends per share of 200p, up 21% from last year

Commenting on the results Paddy Power Betfair CEO Peter Jackson said, "The business saw continued good growth in 2017, with operating profits increasing by 19%. Our Australian and retail operations performed particularly well, growing profits by over 40%."

"We saw the benefits of investing in our customer propositions in 2017, with Sportsbet launching a number of product features that give extra value to customers and Betfair moving to a clear market leadership position in its football pricing."

"Now the Paddy Power brand is operating with an improved product, we will increase marketing spend to align with its mass market positioning and step up the retention-focused investment that we started in 2017."

"Our scale, leading customer propositions and strong balance sheet mean we are well positioned ahead of the regulatory and fiscal changes expected in the UK, Australia and the USA. Our strengths in operating efficiently and responsibly will enable us to build a business that can sustainably generate shareholder returns over the long term."

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