Ladbrokes Coral Group reported another positive trading performance for the four months to 29 Oct and in line with its expectations.
- Group net revenue improved to +3% from Q2 -2% (H1 +1%)
- Digital net revenue +12% with Sportsbook net revenue +18% and Gaming net revenue +6%
- UK Retail like-for-likenet revenue -1% and LFL OTC stakes -5% (Q2: -9%; H1: -8%)
- European Retail net revenue accelerated to +17% (cc +12%)
- Integration continues to progress very well
Chief executive Jim Mullen said: 'The four month period to 29 October represents another period of positive trading performance for the group as well as solid delivery on the key operational and financial targets for the year including the swift integration of people, operations and platforms.
'Our Digital performance is strong and the Ladbrokes brand in Australia and the Eurobet brand in Italy continue to post very strong revenue growth.
'In the UK, the Coral and Gala brands also posted very pleasing growth, and we continue to transition our approach to customer acquisition and retention in Ladbrokes.com to focus on improved profit conversion.
'In UK Retail, performance improved in line with our expectations primarily driven by the return of all horse-racing content to our shops.
'Ladbrokes Coral reached its first birthday on 1st November, the day after the further consultation on the Triennial Review was announced.
'We have existed with the uncertainty caused by the review since we were created and hope that the announcement of a 12 week consultation heralds a positive step to reaching a final outcome.
'We will take a full part in the consultation.'