UK bookmaker Ladbrokes has recorded a 32 per cent drop in total operating profit to £38.9m for the first half of 2015, fuelled by a £11.5m operating loss from the company’s digital business.
Net revenue, including high rollers, fell marginally by 0.1 per cent to £388.8m during the six month period, with growth in UK Retail and digital offset by declines in the operator’s European Retail and telephone betting business.
"Our first half results reflect the challenge facing Ladbrokes,” said Ladbrokes CEO Jim Mullen. “While we have some encouraging customer trends, we need to reset the business and invest. The results clearly show why we need to change and why we need to do so quickly.