Britain's biggest listed bookmaker Ladbrokes says the World Cup helped lift its third-quarter profit and it was on track to meet full-year expectations.
Operating profit for the three months to September 30 rose 128% from a year ago to £51.1m. The World Cup resulted in a surge in business, with revenue rising 12%, while the company also lowered its operating costs. But the amount of money bet by customers at its Irish shops fell by 9%.
Ladbrokes is the latest gambling company to have reported an upbeat business outlook. In August, rival William Hill said it was on track to meet full year-expectations after reporting higher first-half earnings, while earlier this month Rank forecast a full-year performance around the top end of analysts' expectations as it posted higher third-quarter revenue.
In August, new Ladbrokes chief executive Richard Glynn restored the company's dividend and announced a management shake-up along with a deal to buy gambling machines for Ladbrokes' outlets.
