Serving up solid Q4 performance

Ladbrokes Coral defies Sporting God

"While the sporting gods did not look favourably on us in the period, it is pleasing to report that the business continued to perform well and that our full year numbers will be in-line with expectations," said chief executive Jim Mullen.

Shares in Ladbrokes Coral Group PLC rose 3% in early trade after the bookmaker said its results would be in line with market forecasts despite a run of poor sporting results.

It expects to make operating profit of £275-285mln for the last 12 months, with a £101 million contribution from Ladbrokes and £179 million from Gala Coral, following the merger of the two companies last year.

"The last quarter of 2016 was one of significant activity with the completion of the merger, good progress on integration along with the necessary shop disposals and a busy sporting schedule," said chief executive Jim Mullen.

In early trading the shares, having been down 9% over the last three months, were up 3.8p at 128.3p.

Digital Revenues for the three months ended 31 Dec 2016 increased 18% year on year with up 17% and up 13% compared to Q4 2015.

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Andy Hindmarsh
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