paddy-power-shares-slump-on-results

Paddy Power shares drop on results
bet9ja.com
Shares in Paddy Power Betfair have actually fallen by about 5% after the bookie revealed frustrating first-quarter outcomes.

The company's underlying operating profit fell to ₤ 80m, compared with ₤ 91m for the very same period in 2017.
bet9ja.com
It blamed bad weather in March for lower revenues from horseracing after 14% of UK and Irish races were cancelled.
bet9ja.com
New betting taxes and start-up losses in the US also took their toll.
bet9ja.com
The company said it was planning to return ₤ 350m of money to shareholders in the next 12 to 18 months, with a share buyback program to be initiated quickly.
bit.ly
Paddy Power Betfair opened three brand-new shops in the UK and two in Ireland during the quarter, taking its total to 631.
bit.ly
'Good progress'

The business stated group was down 2% at ₤ 408m for the yohaig code quarter,
bit.ly
Growth in football wagering was offset by "weak point in horseracing, which was negatively affected by the high level of weather-related cancellations".

It expects full-year profits to come in at in between ₤ 470m and ₤ 485m.
bet9ja.com
"We have actually made great development against our strategic priorities," stated primary executive Peter Jackson.

"In Europe, the effective conclusion of our platform integration has led to a significant improvement to the Paddy Power item.
bit.ly
"In Australia, Sportsbet continues to perform well and is targeting additional market share growth."
bet9ja.com
"Weather is a huge consider our market and the awful start to this promotion code year has affected many organizations, not simply the bookies. It is not unexpected that revenues have actually slumped, however the genuine test will be through the spring and summer," said Andy Bell from Bettingodds.com, external.

Betting company 'failed issue bettors'

2 May 2018

Bookies seek betting device reprieve

29 April 2018