Strong Results For Paddy Power

Posted on 5/19/11

nline revenues show solid growth with UK and Irish mobile gambling up 298 percent
 
Irish bookmaker Paddy Power announced in an Interim Management Statement that its strong momentum continues into 2011 for the period 1 January 2011 to 15 May 2011 (YTD).
 
Key performance indicators include:
 
–  Group revenue up 21 percent year to date
   –     of which 33 percent growth in online revenues and 7 percent growth in retail revenues.
 
–  UK and Irish online business:
   –     paddypower.com's online sportsbook performed strongly with total amounts staked up by 46 percent.
         –  amounts staked via mobile showed a 298 percent growth with 34 percent of its active customers transacted via mobile.
   –     Sportsbook Gross Win up 60 percent
   –     Gaming/B2B Gross Win up 26 percent
 
–  Australian online business:
   –     Amounts staked up 7 percent
   –     Gross Win up 13 percent
 
Nigel Northridge, Chairman, Paddy Power PLC said "The comparative period for the remainder of the year benefited from the football World Cup, as well as very favourable sports results. However, the strong underlying momentum in the Group should help to offset these factors, and consequently the Board looks forward to the balance of 2011 and beyond with confidence.”