16th Nov 2006 07:01
Ladbrokes PLC16 November 2006 16 November 2006 TRADING UPDATE FOR THE 10 MONTHS ENDED 31 OCTOBER 2006 The Board remains optimistic about Ladbrokes' prospects and continues to advanceits strategy for growth in eGaming and expansion into new markets. Total gross win for the 10 months to 31 October increased by 8%, with profit*increasing by 5%. European Retail gross win increased by 5%, with an increase in operating costs**of 10%. Like for like costs*** rose by 4%. In eGaming, gross win increased by 17%, with a 10% rise in operating costs** inthe four months since 30 June, compared to 27% in the first six months. Thefirst half cost increase reflected the investment in customer recruitmentcampaigns around the World Cup and other sporting events earlier in the year. Total gross win in Telephone Betting rose by 47%, with growth of 10% excludinghigh rollers and an increase in total operating costs** of 8%. During October, Ladbrokes submitted its tender to operate betting centres andkiosks in Italy and will continue to monitor the developing environments in Asiaand Europe, where developments in Spain are of particular interest. Since thehalf year, Ladbrokes has added 14 shops in Eire and 16 shops in NorthernIreland. Outlook Christopher Bell, Chief Executive, said, "While a number of football and racingresults went against us in October, early trading in November has been in linewith expectations. Ladbrokes continues to focus upon International expansion andgrowing its eGaming business, while continuing to prepare itself for futureopportunities in UK and Irish shop estates." * Profit from continuing operations, before interest and tax ** Operating costs excluding Gross Profits Tax, VAT, free bets, promotions andbonuses *** Like for like UK Retail costs excluding new licences, acquisitions andAmusement Machine Licence Duty Enquiries Julian Arlett Ciaran O'Brien Ladbrokes plcHead of Investor Relations Head of Public Relations IR and PR enquiries+44 (0) 7976 348 913 +44 (0) 7976 180 173 +44 (0) 20 7355 0340 A LIVE CONFERENCE CALL FOR ANALYSTS AND INVESTORS WILL BE HELD AT 9AM (UK) THISMORNING. TO PARTICIPATE IN THE CALL DIAL +44 (0) 20 7162 0025 AND ASK FOR 'LADBROKES PLC TRADING UPDATE'. A RECORDING OF THE CALL WILL BE AVAILABLE FOR 7DAYS ON +44 (0) 20 7031 4064 (ACCESS CODE 727315). 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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