After a 'record year' for Paddy Power last year, the company said the strong momentum has continued into 2011.
In an interim management statement ahead of its AGM in Dublin today, Chairman Nigel Northridge said that group revenue is up 21% so far this year, on the back of 33% growth in online revenues and 7% growth in retail revenues.
The company said its UK and Irish online business has performed 'particularly strongly'. Within its online sportsbook, total amounts stake were up by 46%, while amounts staked via mobile surged by 298%. 34% of Paddy Power's active customers made their bets on their mobile phone.
Paddy Power said that its growth in Australia has - as expected - moderated compared to last year, although a number of factors should positively impact growth later this year.
It said that its Irish retail division had been impacted by poor sporting results but remains well positioned to grow market share. Its UK retail unit achieved strong growth in like-for-like revenues and the pace of new openings has accelerated.
'The comparative period for the remainder of the year benefited from the football World Cup, as well as very favourable sports results,' Mr Northridge said.
'However, the strong underlying momentum in the Group should help to offset these factors, and consequently the Board looks forward to the balance of 2011 and beyond with confidence,' he added.
