Ladbrokes profits halved despite some football

13 August 2014

Ladbrokes Ladbrokes have seen their profits almost halved in the first six months of 2014, from £55 million to £27.7 million.

And that's even factoring in a boost from betting around this year's World Cup football tournament.

Operating profits dropped more than a fifth, after some rough weeks, such as for football in January and also a higher percentage of favourites winning horse races.

This follows news earlier this year of losses from 2013 due to a bugger up with investment in new technology, and took longer than it should have to achieve an online presence due to a calamitous new software developer.

Group chief executive Richard Glynn reckoned that the company had managed to complete all its planned improvements in time for the World Cup, and the small upswing there reflected that.

“Our offer performed well, delivering a great betting experience for our customers and a good result for the business in a highly competitive market."

He goes on: "We now have the products, the platforms, the people and the brand in place to deliver. Ladbrokes today is a far stronger company and positioned for growth."

Wanna bet? HAHAHAHAHA. Sorry.

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