Paddy Power has said that trading in the months from July to November has been in line with expectations after a very strong first half performance.

In an interim management statement, Paddy Power said it still expects its full year operating profit will see a mid to high single digit percentage increase above 2014.

The company said that while sports results in the period under review were "unfavourable", this had been offset by strong underlying growth.

It said that sports betting stakes rose by 23% in its online operations, while total net revenue rose by 7%.

In its retail operations, sports betting stakes increased by 12% while total net revenue also rose by 7%. 

The bookies chain said that its Irish retail operations saw like for like stakes of 8%, while net revenue was up  by 4% due to its improved customer offering and strengthening economy.

Its UK retail operations saw 5% like for like growth in sportsbook stakes, but sportsbook net revenues eased by 8% due to adverse sports results. Machine gaming net revenue was up 6%, the company added.

The company opened seven new shops in Ireland and seven new shops in the UK during the period under review.

Paddy Power said its online Australian business continues to grow strongly and take market share. Total stakes jumped by 43% while net revenue rose by 33%.

Its UK and Irish online business, as expected, saw its revenue growth hit by the very favourable sports results and the World Cup this time last year, and total net revenue fell by 9%. 

However, since the World Cup, new customer acquisitions was up 20% while sports book stakes increased by 11%, the company added.

In Italy, it said its plans to position the business for long term growth and profitability remains "on track", adding that costs continue to be tightly managed.

Paddy Power is currently planning a merger with British firm Betfair and says it expects to publish documentation relating to the deal in the coming weeks.

Shares in Paddy Power were higher in Dublin trade today.