London-listed bookmaker Ladbrokes has reported a 22 per cent fall in earnings for the first quarter of 2015, despite a 3 per cent increase in group net revenue.

Earnings before interest and tax in the first quarter fell to £14.3m from £18.4m a year ago, primarily as a result of customer friendly results during the period and what the company described as "externally imposed headwinds" - namely the UK point of consumption tax, increased Machine Games Duty, and withdrawal from unregulated digital markets.

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