Paddy Power said today it expects mid to high-teens percentage earnings per share growth this year.

This is up slightly on its previous forecast as sports results rebounded as expected in the second half of the year.

Shares in the company closed 3% higher in Dublin trade today.

The company saw operating profit fall sharply in the first half on what it described as a "horrific run of sports results" but said that things had already improved by August and that it expected mid-teen percentage EPS growth. 

Revenues since the end of June were up 38% year on year compared to growth of 7% in the first half, the bookmaker said in a trading statement.

It cited good top-line growth and favourable sports results for the improvement. 

The growth was driven by a 42% rise in online revenue and a 14% rise in its retail division as it opened 73 new shops - 20 in Ireland and 53 in the UK. This brings its presence in Ireland and the UK to 562 outlets.

It noted that the positive like-for-like stake and revenue trends seen since the start of last year continued in its Irish retail division, with stakes up 4% and net revenue up 11%.

In its UK retail division, sportsbook stakes rose by 2%, sportsbook net revenue increased by 20% and machine gaming revenues moved 12% higher.

Paddy Power said 58% of its online revenue came from smartphone and tablet betting in the second half of the year.

The company has more than doubled its annual profits since 2009 through overseas expansion and a stronger online performance than its rivals.