Latest Share Chat

LAD.L Share News (LAD)

LAD.L Information

There is currently no data for LAD

Ladbrokes results encourage as Mullen's strategy takes shape

Thu, 22nd Oct 2015 07:58

(ShareCast News) - Ladbrokes shares raced higher as Thursday's third-quarter results met forecasts but were somewhat mixed as new chief executive Jim Mullen's plans take effect, with underlying revenue growing but operating profit falling sharply.The bookmaker reported a strong start to the football season, which helped underlying group net revenue for the three months to the end of September to rise 2% at the underlying level, excluding the impact of the football World Cup last year, which masked the 0.7% decline at the statutory level.Strong 10.5% underlying growth in digital revenues helped put a better sheen on underlying UK retail revenues up 1.1% and European retail down 4.6%.After several quarters of declines, UK retail enjoyed a 1.8% increase in amounts wagered and machine gross win per shop surged 8.6%. In the online sportsbook amounts wagered were up by a strong 34%, whilst active users and gaming revenue both saw double digit growth.The results reflect the first activity since Mullen introduced his plans to invest and grow the recreational and multi-channel customer base particularly across UK retail, online and Ladbrokes Australia."It is early in our journey, but today's results reflect positive initial progress and customer traction with continued increases in staking and actives across Digital and improved staking trends in UK Retail driven by football and racing," Mullen said.Earnings before interest and tax decreased by 56.7% to £14.3m, largely as expected, as management upped their marketing spending to grow the "recreational" customer base, while also being buffeted by the UK taxes, a withdrawal from unregulated digital markets and tougher margins in comparison with those enjoyed during the World Cup 2014.In the UK the group has been encouraged by the response to the late August nationwide launch of a multi-channel offer, 'One Ladbrokes', that is focused on growing digital actives through the combination of digital and over-the-counter (OTC) technology products, such as the bet slip tracker mobile app, the 'Grid' loyalty card and new retail staff incentivisation and training."With sportsbetting at our core we see customers responding well to our products, our value and to our recently launched multi-channel offer," Mullen added. "All these initiatives are part of the long term plan for Ladbrokes with our targets based around delivery on hard financials for 2017."The focus now is on building on this start. Our people are responding to this challenge and we are committed to taking whatever steps necessary to keep this focus."There was no further news on the merger with Coral apart from it being "on track", having sucessfully raised £1.35bn in new bank debt to finance the merged group.Analysts at Shore Capital said they were disappointed with win margin in light of the wagering growth, even though football was said to be strong."Q3 was said to be in line with management expectations suggesting the group remains on track for circa £70m of operating profit for the full year - circa 4p of earnings - implying Q4 profits consistent with the third quarter," they said, maintaining a neutral stance but noting that the current price "appears to assume little chance of the Coral merger completing, which may be overly pessimistic".Shares in Ladbrokes were up 4% at 105.1p by 0844 BST on Thursday.

More News

31 Oct 2016 09:39

BROKER RATINGS SUMMARY: HSBC Raises IAG To Hold From Reduce

26 Oct 2016 15:57

Ladbrokes-Coral merger wins final CMA approval with 322 shop disposals

(ShareCast News) - Ladbrokes and Coral will be able to complete their merger "in the very near future" after the competition regulator gave its final approval on Wednesday. After the Competition & Markets Authority gave its green light, the FTSE 250 bookmaker said it had approved the disposal of

21 Oct 2016 14:38

Daisy pulls sterling junk bond as investors get tough

By Robert Smith LONDON, Oct 21 (IFR) - Daisy called off an attempt to issue a sterling high-yield deal on Friday, in the latest sign of waning UK investor appetite for riskier debt in challenging sectors. The UK company threw in the towel on the debut bond after four days of marketing

18 Oct 2016 17:12

UPDATE 4-William Hill, Amaya drop short-lived gambling merger talks

* Talks abandoned less than two weeks after announcement * Sector consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Amaya shares drop 8.3 percent (Adds share move, Amaya spokesman

18 Oct 2016 13:24

RPT-UPDATE 3-William Hill, Amaya drop short-lived gambling merger talks

(Repeats for wider distribution, no changes to text) * Talks abandoned less than two weeks after announcement * Sector is consolidating as more gamblers go online * European rivals have already joined forces * Amaya FY revenue forecast below market expectations * Ama

18 Oct 2016 08:28

Ladbrokes revenue grows for fourth successive quarter

(ShareCast News) - FTSE 250 betting and gambling company Ladbrokes reported growth for a fourth successive quarter for revenue as it remains confident of delivering full year results in line with expectations. In a trading update for the third quarter ended 30 September, net revenue increased 12.1%,

18 Oct 2016 06:56

Tuesday newspaper round-up: Bonds, Shell, bookmaker levy, farm boost

(ShareCast News) - Investors dumped UK government bonds yesterday in one of the heaviest sell-offs since the Brexit vote as international demand for sterling assets declined rapidly. Overseas investors are becoming increasingly worried that inflation and a move by the Conservative government towards

17 Oct 2016 07:13

Ladbrokes and Coral announce planned sale of 359 shops

(ShareCast News) - Bookmaker Ladbrokes announced on Monday that subsidiaries of both itself and merger partner Gala Coral Group have agreed to sell a total of 359 licensed betting offices to Done Brothers Cash Betting - trading as Betfred - and StanJames Abingdon - trading as Stan James. The FTSE 25

17 Oct 2016 06:58

Monday newspaper round-up: New Brexit plans, dividends, supermarkets

(ShareCast News) - Britain would continue to pay billions of pounds into the EU budget after Brexit to maintain cherished single-market access for the City of London and other sectors under plans being discussed by Theresa May's cabinet. The prime minister's demand that Britain controls its borders

17 Oct 2016 06:20

Ladbrokes, Gala Coral to sell 359 shops ahead of merger

LONDON, Oct 17 (Reuters) - British Ladbrokes and Gala Coral said they agreed to sell 359 shops for 55.5 million pounds ($69 million) to rivals, in a deal which will reduce their footprint and pave the way for competition authorities to allow their merger to proceed. The pair were told in Ju

10 Oct 2016 07:49

BUZZ-William Hill: best day in 3 months after confirming merger talks

** William Hill rises 5.4 pct, its best day since mid-July, after confirming merger talks with Canada's Amaya ** Co says deal would create a global leader in sports betting, poker and casino ** Top riser on Stoxx 600 and most traded by average volumes - 1.5x 30-day average in the firs

7 Oct 2016 07:39

BUZZ-UK gambling companies lower after media reports of TV ad ban

** Shares in British gambling companies fall after The Times newspaper reports that the companies are due to be banned from advertising on television during the day ** William Hill down 2.9 pct, Labrokes down 2.5 pct vs. Britain's midcap index which is up 0.2 pct ** Cenkos analyst Sim

20 Sep 2016 06:57

Tuesday newspaper round-up: May in New York, Ladbrokes, building blocked

(ShareCast News) - Theresa May will canvass leading Wall Street banks over how Britain should structure its departure from the EU to reassure them that Brexit will not damage their UK business. Mrs May will meet "mostly" chief executives from the finance sector along with figures from the technology

31 Aug 2016 07:51

Gala Coral revenue up but losses widen

(ShareCast News) - Ladbrokes said on Wednesday that revenue at Gala Coral, with which it has agreed to merge, rose in the third quarter, but the bookmaker's loss widened due to exceptional costs. In the 12 weeks ended 2 July, net revenue at Gala Coral was up 10% from 2015 to £264m, while earnings be

26 Aug 2016 08:46

Ladbrokes given a boost by Berenberg upgrade

(ShareCast News) - Berenberg has raised its rating on Ladbrokes to 'buy' from 'hold' and lifted its target price to 185p from 130p, saying the company is its second favourite stock in gaming after Playtech. The broker said since it initiated on Ladbrokes a number of positives have materialised with

Latest Share Chat

LAD.L Share News (LAD)

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Ladbrokes results encourage as Mullen's strategy takes shape

Login to your account

Quickpicks are a member only feature

Login to your account