Ladbrokes reported its financial results for 2016’s first six-months

Ladbrokes reported its financial results for 2016’s first six-months

The gambling operator has released its financial results for the six-months ended June 30, 2016.

UK.- UK-based gambling operator Ladbrokes reported its financial results for the six-months ending in June 30, 2016. The operator highlighted strong customer metrics across all key divisions. The figures obtained exceeded initial expectations and were mainly attributed to good staking and favorable sports results over the period in question.

Overall revenue for the half-year amounted to £661.8 million (€779 million), up 13.1 percent year-on-year. Ladbroke’s best performing division in terms of revenue generated was UK Retail. The firm’s UK land-based operations generated a total of £436.6 million (€513.88 million) during 2016’s first half, up 6.4 percent year-on-year.

Ladbroke’s Digital business posted the biggest growth over the period in review. Revenue from online gambling totaled £158.1 million (€186 million), an increase of 40.9 percent from the figure reported for the same six months of 2015.

Jim Mullen Ladbrokes CEO said that the numbers reported indicate that gambling customers are responding to the company’s new growth strategy in a positive manner. Mullen also noted that favourable sports results also helped the gambling operator improve considerably its key metrics during this 2016’s first half.