August 15, 2019 / 6:26 AM / 9 days ago

GVC raises full-year outlook, expects to shut fewer shops

Aug 15 (Reuters) - GVC on Thursday raised its full-year outlook after its UK retail business performed better than feared in the first half, and the Ladbrokes owner said it expects to shut about 100 fewer shops than previously planned.

The company, which now expects to shut 900 shops, said full-year core earnings would be within the range of 650 million pounds to 670 million pounds.

Underlying pretax profit rose 31% to 212.1 million pounds ($255.71 million) for the six months ended June 30. ($1 = 0.8295 pounds) (Reporting by Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr)

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