Ladbrokes Coral doubles dividend payout as it backs its future prospects | City & Business | Finance

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A strong digital side, which grew revenue 17 per cent to £374.5 million, helped overall half-year sales lift 1 per cent to £1.2 billion, with group operating profit up 7 per cent to £158.3 million.

The interim dividend is doubled to 2p per share.

It suffered many punter-friendly football results, taking a £1.5 million hit as Newcastle won the Championship title after Brighton conceded an 89th-minute equaliser to Aston Villa.

Chief executive, Jim Mullen, said: “Ladbrokes Coral continues to make good operational and financial progress.

“We entered the year with ambitious targets for the first half to substantially complete the integration of our teams and migrate UK Digital to a single platform.

“We delivered on both fronts and at the same time kept the business moving forward.

“It is pleasing to report strong digital growth.

“UK retail performance is in line with our expectations given the planned commercial decisions on UK racing media rights and Ladbrokes’ horse racing margin, both of which will protect the profitability of our shop estate well into the future.

“The business is now looking to the second half with confidence.”



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