* Shares ease on sports results, guidance
* Sees low to mid double digit FY operating profit growth
* H1 revenues rise 22 pct, online leads the way
By Padraic Halpin
DUBLIN, Aug 28 (Reuters) - Irish bookmaker Paddy Power held out the prospect of bumper takings from nextyear's soccer World Cup after full-year profit guidance for 2013disappointed investors.
Shares in the group, hit by punter-friendly results in whatis a quiet year for major sporting competitions, were down 0.3percent at 59.9 euros by 1514 GMT, continuing a falling trendfrom highs above 70 euros earlier in the year.
Davy Stockbrokers cut its rating on Paddy Power to'underperform' in late April when its shares traded at 67 euros,saying fair value was 57.80 euros. The stock has since fallen 11percent.
Paddy Power, which has posted stellar top-line profit growthin recent years, said on Wednesday that operating profit rose 12percent to 75.4 million euros ($100 million) in the first halfwith revenues up 22 percent, driven by the group'smarket-leading online division.
The Dublin-based group said it was on track for low- tomid-double-digit full year operating profit growth in constantcurrency terms.
Chief Executive Patrick Kennedy forecast turnover from the2014 World Cup of over 100 million euros, compared with 86million in 2010, and expected the competition to deliver a majorboost to its new business in soccer-mad Italy.
In contrast to rival William Hill, which suffered aslow start to its expansion into Australia, turnover at PaddyPower's Sportsbet brand grew at its fastest rate to date withprofit and customers also growing by over 30 percent.
The bookie, which is set to be hit by new betting taxes inIreland at the end of 2013 and Britain a year later, is seekingto capitalise further on fast-growing online and smartphonemarkets which now account for over 75 percent of its profit.
This week it begins trialling the first real money sportsbetting product on Facebook with a view to rolling it outacross the social network in a matter of weeks.
"For operators who get this right, it is an enormousopportunity," Kennedy said.
