Ladbrokes profits up strongly on 'bookie friendly' results

Ladbrokes has reported a ₤ 25.2 m profit for the very first 6 months of the year with last year's ₤ 51.4 m loss.

The bookmaker states this promotion code strong, external performance is in part due to "sporting gods" being on its side.

It points out a run of "bookie friendly" results, like that of the European Championship, where England and Northern Ireland exited early.

Ladbrokes, which prepares to merge with competing Coral, says a run of "consumer friendly" outcomes will follow.

It says it remains in talks with prospective purchasers for around 400 stores it needs to cost the merger to go through.

The results reveal that consumers are reacting favorably to the business's new technique "at a time when the yohaig code sporting gods have actually usually been on our side and we've delighted in some practical bookmaker friendly outcomes", said president, Jim Mullen.

"History would highly dictate that such a run of outcomes in our favour would see client staking suffer, but encouragingly these numbers firmly buck that trend and combine strong staking and a good margin."

"However, 130 years of experience in sports wagering has shown us that we will endure a run of customer friendly outcomes and margins will normalise," he added.

Biggest bookie

Ladbrokes, the UK's second-biggest bookmaker, revealed its scheduled ₤ 2.3 bm merger with Gala Coral, the third-biggest, in July in 2015.

The bet9ja's welcome offer will make it the biggest bookie in the nation, but last month the Competition and Markets Authority, external stated it had determined 642 areas where the merger would hit competition.

It stated the 2 companies need to sell in between 350 and 400 buy the merger to be cleared.

In its outcomes declaration, Ladbrokes said it was "interesting" with prospective buyers and remained enthusiastic that a competitive procedure could be finished by the end of September. It would then look to start "substantial" restructuring of the organizations before the end of the year.

Ladbrokes' shares were up 5% in early morning trading.