A strong first half of the year has been reported by major UK bookmaker Ladbrokes.
The company is in the process of merging with rival Coral after the two companies have divested themselves of hundreds of bookmaker’s shops to meet the UK’s competition ruling.
Ladbrokes reported a £25.2m profit for the six months compared with a £51.4m loss in the same period of last year, reflecting some very positive sports results in the year which were “bookmaker friendly,” such as the European Championship in football where England and Northern Ireland exited early, but where the unfancied Wales did well.
The group reports that it is in talks with potential buyers for 400 of its shops which it has to sell for the Coral merger to go ahead.
