Presenting a forward-looking statement to investors, Ladbrokes Coral CEO Jim Mullen states that his firm’s executive team must now match its enlarged revenue generating capabilities with market-leading operational efficiencies, in order for the FTSE enterprise to reach its optimal value.
Speaking 150 days since officially completing the merger of Ladbrokes Coral, Mullen detailed that 120 senior executives had been presented with the new firm’s vision and strategy.
‘Make no mistake, scale matters’ Mullen stated as he presented the following graph. Ladbrokes Coral CEO urges his firm’s executives to ‘seize the opportunity’ of the enlarged firm’s size and scale over home and international competitors.
In its initial post-merger strategy, Mullen detailed that Ladbrokes Coral governance had underplayed the potential value generation of the firm’s combined portfolio and assets.
The CEO details that the ‘five pillar merger rationale’ presented to investors remains the company’s core vision.
Looking forward Ladbrokes Coral will be established itself as effective cash generating business (pillar 1), focusing on scalability gained through its fast growth digital (2), and multi-channel verticals (3). Furthermore, the company will implement significant combined synergies (4) and seek to roll-out an extensive international portfolio in regulated markets (5).
Mullen notes that the firm’s first alignment test will come this Q2 2017, as Ladbrokes Coral development teams look to migrate digital systems into one unified platform. Placing technology integration at the centre of its co-synergy plan Ladbrokes Coral will look to have shared business intelligence and CRM platforms by H1 2017.
Closing his statement Mullen details that Ladbrokes Coral has the scale and size to overcome any potential shocks that may come from regulatory changes, as Ladbrokes Coral governance looks forward to the publication of the UK government’s industry review this coming April.