LONDON (dpa-AFX) - Ladbrokes plc (LAD.L) posted a 8.9 percent growth in its first-quarter 2012 Group net revenue on continuing operations, excluding High Rollers. Group operating profit for the quarter of 50.4 million pounds was 3.9% higher than last year, reflecting growth in UK and European Retail and the anticipated reduction in Digital due to a planned increase in investment.
UK Retail total net revenue grew 9.0%, and the machines continued to grow strongly with net revenue for the period up 21.7%. Net revenue in Ireland climbed 19.9% with the OTC gross win margin 2.9 percentage points stronger year on year, helped by more favourable results at Cheltenham. Also, the company reported a 5.9% increase in total Digital net revenue for the period, largely driven by progress in sportsbook.
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© 2012 AFX News
