Paddy Power has said that its overall performance for the months from July to November was in line with expectations.

In an interim management statement, the bookmaker reported ''strong'' growth in net revenue of 23% and continued significant investment.

However it added that levels outside of Australia were held back by a number of factors, including weather related cancelations of some sporting events and the Olympics in London.

This was offset by favourable sports results which resulted in a gross win percentage above normal expectations.

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The company said its Irish retail operations performed ''positively'' with like for like stakes up 0.4% and net revenues up by 8%.

It said that despite a competitive environment, its UK retail divisions also performed well with like for like net revenue up 5%. This was driven by a strong sportsbook growth of 12%, which offset a fall in machine gaming of 4% it added.

Paddy Power said it now plans to open up to 45 new shops in the UK this year.

In Australia, Paddy Power's online turnover jumped 24% higher, and the company noted there was no slowdown in growth compared to the first half of the year.

Its online division also performed very well with total net revenue growth of 21%. The sportsbook amounts staked jumped by 28%, while gaming net revenues rose 14%.

''We also continued to progress our portfolio of newer online businesses and to invest in exploring other development opportunities to contribute to longer term growth, the company's trading update said.

Paddy Power shares closed at €54.55 on the ISEQ, up 3 cent on the day.