Ladbrokes profits down.

Ladbrokes profits fall despite National boost


LADBROKES on Friday made a downbeat interim trading statement in advance of their AGM saying that despite a beneficial Grand National result, total gross win in their shops fell four per cent, with over the counter, excluding machines, down seven per cent for the four months ended April 30.

This reflected poor trading in the early part of the year due to bad weather affecting horse fixtures, plus a successful Cheltenham for punters. However, since Cheltenham, gross win has increased by five per cent, boosted by Mon Mome's 100-1 shock in the Grand National.

Chris Bell, Ladbrokes chief executive, said: "We've been around a long time, you get good and bad results, that's racing, but we're back on track and are confident about the year-end - and we don't make that sort of statement lightly. This remains a resilient, excellent business."

Overall Group profit, excluding high rollers, fell 34 per cent, and this was also blamed on the cost of free bets around their loyalty card but also internet marketing especially "unfavourable cost phasing in eGaming against the prior year"

Must be Sloop who is making all the money...well so he tells everybody