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BRIEF-Ladbrokes Coral Group says FY operating profit in line with expectations
January 18, 2017 / 7:41 AM / 10 months ago

BRIEF-Ladbrokes Coral Group says FY operating profit in line with expectations

Jan 18 (Reuters) - Ladbrokes Coral Group Plc :

* Trading statement

* Full year operating profit in line with expectations, despite poor sporting results in december

* Proforma group operating profit [1,2] for full year is expected to be within range of £275m-£285m

* This consists of ladbrokes standalone operating profit [1,2,3] of c£101m and coral group standalone operating profit [1,2,3] of c£179m

* This result is in line with market consensus for ladbrokes plc and in line with management expectations for coral group

* This compares to 2015 proforma group operating profit [1,2] of c£235m, consisting of ladbrokes plc operating profit [1,2] of £80.6m and coral group operating profit [1,2] of c£154m

* Quarter 4 (representing period 1 october 2016 to 31 december 2016) saw continued growth in digital with net revenue 18 pct ahead

* Despite poor sporting results in uk, ladbrokes.com net revenue was 17 pct ahead of same quarter last year and coral.co.uk net revenue was 13 pct ahead

* Uk retail net revenue was 4 pct behind same quarter last year.

* We remain confident in our plans for 2017 and on delivering opportunities identified in merger Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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