18th May 2007 07:01
Ladbrokes PLC18 May 2007 18 May 2007 TRADING UPDATE FOR THE FOUR MONTHS ENDED 30 APRIL 2007 The Board continues to expect the results for 2007 to be in line with itsexpectations. Good progress has been made with the renewal of the FOBT estate,growth in the Irish shops is buoyant and eGaming continues to grow steadily. UKRetail OTC has had a challenging period, partly due to the success of the newFOBT rollout. Future OTC trends are difficult to predict, not least because ofthe advent of all year round evening opening. We continue to focus energeticallyon International development opportunities in both Europe and Asia, with ouractivities in Italy the most advanced. Profit for the four months ended 30 April 2007 was in line with last yearexcluding the impact of Telephone High Rollers (down 10% including High Rollers,where we faced tough comparatives in the same period last year). Total gross winincreased by 5% excluding High Rollers (up 2% including High Rollers). UK Retail gross win increased by 1%. Over the Counter (OTC) gross win declinedby 3% with a reduction in total amounts staked, partially offset by animprovement in margin. Machine gross win increased by 12% with average weeklygross win per FOBT of £613 compared to £534 for the same period in 2006. Rolloutof the new FOBTs was completed at the end of March and average weekly gross winhas improved further. Costs** increased by approximately 9%, of which 4% relatesto Amusement Machine Licence Duty (AMLD) on FOBTs. Ireland and Belgium Retail gross win increased by 23%, due to a particularlystrong performance from the enlarged Irish estate. eGaming gross win increased by 11% due to good growth in Sportsbook, Casino andGames, partially offset by a decline in Poker where the competitive environmentremains difficult. Active customers grew by 12% in the period. Telephone Betting gross win decreased by 47%, due to reduced High Rolleractivity. * Profit from continuing operations, before interest and tax ** Operating costs excluding gross profits tax, VAT, free bets, promotions andbonuses Enquiries Brian Wallace Julian Arlett Ciaran O'BrienGroup Finance Director Head of Investor Relations Head of Public Relations Ladbrokes plc IR and PR enquiries +44 (0) 207 355 0340 A conference call for UK analysts and investors will take place at 8am (BST)today. To participate in the conference call dial +44 (0) 20 7162 0025 and askfor 'Ladbrokes plc trading update'. A recording of the call will be availableuntil 25 May on +44 (0) 20 7031 4064 (access code 750844). FOR FURTHER INFORMATION ON LADBROKES PLC, PLEASE VISIT OUR CORPORATE WEBSITE ATWWW.LADBROKESPLC.COM. HIGH RESOLUTION IMAGES ARE AVAILABLE TO DOWNLOAD FROM THEMEDIA CENTRE SECTION UNDER THE HEADING 'IMAGE LIBRARY'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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