Ladbrokes says Coral trading positive in third quarter

by Jonathan Adams

Merger partners Ladbrokes and Gala Coral Group posted fourth quarter financial results for Coral, for the 12 weeks to 25 September on Thursday.

The firms reported positive trading for the period, with total Coral Group net revenue 8.9% ahead of last year, or 11.3% ahead in the year-to-date.

The statement by Ladbrokes read “Coral Retail net revenue grew 0.3% driven by an improvement in OTC gross win margin and machines growth”.

“Eurobet Retail net revenue was 31.2% ahead of last year, with strong growth in sports stakes.”

The company’s online operations also saw continued strong growth with net revenue 23.7% ahead of last year, or 28.3% year-to-date, with net revenue 31.7% ahead driven by strong sports stakes growth.

It came two days after Ladbrokes posted strong third quarter growth itself, and three days after the two proposed to sell 359 betting shops to Betfred and Stan James to satisfy competition concerns.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more