Ladbrokes Profits Up Strongly On Bookmaker Friendly Results

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Ladbrokes benefits up highly on 'bookmaker friendly' results
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Ladbrokes has reported a ₤ 25.2 m earnings for the first 6 months of the year compared with last year's ₤ 51.4 m loss.


The bookmaker says this strong, external performance remains in part due to "sporting gods" being on its side.


It points out a run of "bookmaker friendly" results, like that of the European Championship, where England and Northern Ireland exited early.
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Ladbrokes, which plans to combine with competing Coral, says a run of "client friendly" outcomes will follow.
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It says it remains in talks with prospective purchasers for around 400 stores it has to sell for the merger to go through.
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the yohaig code outcomes show that clients are responding positively to the business's brand-new technique "at a time when the sporting gods have actually normally been on our side and we've enjoyed some valuable bookie friendly results", stated president, Jim Mullen.


"History would strongly determine that such a run of outcomes in our favour would see customer staking suffer, but encouragingly these numbers firmly buck that pattern and integrate strong staking and an excellent margin."


"However, 130 years of experience in sports betting has actually shown us that we will sustain a run of customer friendly outcomes and margins will normalise," he included.


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Ladbrokes, the UK's second-biggest bookmaker, revealed its scheduled ₤ 2.3 with Gala Coral, the third-biggest, in July last year.


The offer will make it the largest bookie in the nation, however last month the yohaig code Competition and Markets Authority, external said it had actually determined 642 cities where the yohaig code merger would hit competitors.


It stated the 2 business should offer in between 350 and 400 purchase the merger to be cleared.
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In its outcomes declaration, Ladbrokes stated it was "appealing" with prospective buyers and remained hopeful that a competitive process could be finished by the end of September. It would then want to begin "substantial" restructuring of business before the yohaig code end of the yohaig code year.


Ladbrokes' shares were up 5% in morning trading.
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