26th May 2006 07:01
Ladbrokes PLC26 May 2006 TRADING UPDATE FOR THE FOUR MONTHS ENDED 30 APRIL 2006 The first four months of 2006 were positive for Ladbrokes plc. Profit* increasedduring the period by 5%, and total gross win rose by 11%, benefiting from goodhorseracing results at Cheltenham and Aintree, continuing growth in eGaming andan improvement in Telephone Betting. European Retail** gross win increased by 7%, despite 37 lost race meetings, morethan double the number during the same period in 2005. Total costs increased by12% in line with expectations, driven by acquisitions and new licences, inaddition to utility and energy costs. Like for like costs increased by 4%. In eGaming, gross win increased by 26%, with a 32% rise in operating costsdriven by planned customer recruitment campaigns around major sporting eventsand in anticipation of the World Cup. Total gross win in Telephone Betting rose by 43% (up 4% excluding high rollers),with total operating cost growth of just 1%. The successful sale of Hilton International to Hilton Hotels Corp for £3.3bn wascompleted on 23 February, 2006. Prior to the payment of a special dividend of233.4p per share on 25 April, interest income of £24m was earned on the proceedsreceived on the sale of hotels division. Commenting on the update, Christopher Bell, CEO Ladbrokes plc said: "We have hada positive start to the year and are trading in line with our expectations. Aswe approach the busiest part of the sporting year, with the Epsom Derby meeting,the World Cup in Germany and Royal Ascot to look forward to, I am confidentabout the prospects for the business." * Profit from continuing operations, before interest and tax** European Retail includes Vernons 26 May 2006 Enquiries Alex Pagett Julian Arlett Ciaran O'BrienCorporate Affairs Director Head of Investor Relations Head of Public Relations+44 (0) 7974 229 888 +44 (0) 7976 348 913 +44 (0) 7976 180 173 Ladbrokes plcIR and PR enquiries+44 (0) 208 515 5532 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 0125 and askfor 'Ladbrokes plc trading update'. A second call for US analysts and investorswill be held at 3pm (BST) today. To participate in the conference call dial +44(0) 20 7162 0025 and ask for 'Ladbrokes plc trading update'. 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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