Results for Ladbrokes' online gaming business for the 12 months to December 31, 2014, show a 70 per cent increase in operating profit and a more than 20 per cent rise in revenue, compared with 2013.
Revenue for the company’s digital business grew to £215.1m in 2014 from £175m the year before, a rise of 22.9 per cent. In the same period, operating profit jumped from £8.2m to £14m – an increase of 70.7 per cent.
Staking for Ladbrokes’ mobile sportsbook rose 110 per cent in 2014 with a 62 per cent increase in active accounts. The online sportsbook net revenue was up 21 per cent to £84.8m with the gross win margin largely unchanged at 7.8 per cent.
CEO Richard Glynn said: "Ladbrokes entered 2014 clear on what needed to be done to deliver a successful World Cup and to move from operational delivery in H1 to financial growth in H2. We delivered against all our operational targets, enjoyed a successful World Cup and saw clear growth in key areas of the business.
"2015 will see new management but the focus on satisfying customer demands, improving the resilience of our retail estate, growing internationally and further improving our digital offer remains."
