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Paddy Power warns on profits after tough sports results

Tue, 19th Nov 2013 12:13

Irish bookmaker Paddy Power warned on profits as summer and autumn horse racing and soccer results went against it, knocking its shares.The stock dropped 4.84p or nearly 8% to 57.66p by midday on Tuesday in London as it said 2013 operating profit should rise by a low to mid-single digit percentage, about €11m lower than the middle of its guidance at its half-year results.Sports results stayed poor between July 1st and November 17th, particularly in the Australian Spring Racing Carnival and the European Champions League, it said.In its retail division, sports betting like-for-like turnover was up 5%, machine net revenue began growing again and it expected to open a record 65 shops this year.The group's online business boosted sports turnover outside Australia by 15% and e-gaming and B2B revenue had risen 17% in spite of a more competitive UK market.Australian online turnover rose 26%.PW

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2 Jan 2015 12:09

London midday: Shares lose early gains as downbeat manufacturing data weighs

London shares lost earlier gains by midday on Friday as downbeat manufacturing data across Europe and jitters about political uncertainty in Greece took their toll. The FTSE 100 Index fell back to stand 8.52 points adrift at 6,557.57 shortly before midday in the first trading session of the new y

2 Jan 2015 07:45

London pre-open: Economists warn on political uncertainty, euro at 2010 lows

The FTSE 100 Index is expected to start the New Year with slight gains, rising from Monday's closing level of 6,576.74, with most of its European peers seen advancing by between one and six tenths of a percentage point. The Financial Times's (FT) Friday edition led with a story regarding economists'

2 Jan 2015 07:40

Bookmaker Paddy Power gets new boss

Irish bookmaker Paddy Power has a new chief executive after former boss Patrick Kennedy stepped down. Paddy Power said Andy McCue, formerly managing director of the group's retail UK & Ireland business, had taken up the role on Friday. Kennedy announced his intention to step down as chief executive

1 Oct 2014 07:31

UK MORNING BRIEFING: Supermarkets Lead FTSE Lower On Sainsbury Sales

1 Oct 2014 05:52

PRESS: Bookmakers To Voluntarily Ban Free Bet Ads Pre-Watershed - FT

15 Sep 2014 11:42

UK MIDDAY BRIEFING: TUI Travels Higher As Merger Terms Revealed

15 Sep 2014 10:17

TOP NEWS: TUI Travel And German Parent Detail Merger Terms

15 Sep 2014 07:28

UK MORNING BRIEFING: SABMiller, Diageo And TUI Lead Weak FTSE 100

15 Sep 2014 06:00

REPEAT: PRESS: UK Bookmakers To Create Gambling Watchdog - FT

15 Sep 2014 05:52

PRESS: UK Bookmakers To Create Gambling Watchdog - FT

4 Sep 2014 15:31

DIRECTOR DEALINGS: Paddy Power Incoming Chief Executive Gets Shares

4 Sep 2014 07:39

REPEAT: UK MORNING BRIEFING: Standard Life Jumps 10% On Canada Sale

4 Sep 2014 07:37

UK MORNING BRIEFING:

4 Sep 2014 06:48

Paddy Power Appoints McCue As Chief Executive Designate

28 Aug 2014 12:07

Paddy Power sympathises with John Cleese as profits fall 20%

Irish bookmaker Paddy Power said it intended to restart its buyback programme as it reported a 20% fall on pre-tax profit for first half of the year. The company's pre-tax profit fell to €61.6m (£49.02m) due to a run of unfavourable sports results as the "public had a field day". In January and M

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