Paddy Power has reported 28% growth in the year to date with a huge increase in mobile revenue.

It follows, the company says, an operating profit of €120m on a record turnover of €4.6billion for 2011.

The company which has its AGM in Dublin this morning is proposing a dividend of 100 cents per share 2011, in increase of 33%.

Paddy Power reports that sports results have been favourable thus far this year, with the group's sportsbook gross win percentage above equivalent period last year.

The scale of the Group also increased significantly with strong growth in existing markets, particularly in online and mobile betting, and further international expansion progressed in Canada, Italy and Bulgaria.

Paddy Power's net revenue is up 28% in the year to date, driven by 31% growth in online revenue and 26% growth in retail revenue.

In the company's online division, net revenue has grown by 37% in Australia and by 28% in

Revenue from mobile betting was up 241%.

In April, mobile turnover accounted for 23% of total online sportsbook stakes in Australia and 38% of total sportsbook stakes in

UK retail grew when compared with last year although revenue in Irish betting shops fell by a further 4% due to the difficult economic conditions, revenue performed well because of improved year-on-year sporting results.

The company hopes to expand further, with an entry to the Italian online market going live this week, and they're increasing the resources assigned to mobile gaming and other business development opportunities.

The Group retains net cash at 15 May of €202 million, or €149 million excluding customer balances.