March 28 British bookmaker Ladbrokes Coral Group
said on Tuesday 2016 operating profit rose about 22
percent despite paying out heavily on a number of
gambler-friendly sports results towards the end of the year.
The company, created when Ladbrokes joined forces with Coral
in a $3.4 billion merger last year, said operating profit rose
to 264.3 million pounds ($331.5 million), helped by growth in
its digital and European retail businesses.
Revenue rose 11 percent to 2.3 billion pounds.
The company upgraded its cost synergy guidance for the
merger to 100 million pounds from 65 million.
($1 = 0.7972 pounds)
(Reporting by Rahul B in Bengaluru; Editing by Mark Potter)