The governance of FTSE-listed Ladbrokes Plc is confident of delivering on its full-year 2016 expectations following the operator posting a fourth successive quarter of group revenue growth.
Presenting its Q3 2016 trading update (period ending 30 September) Ladbrokes governance expects to post a 12% group revenue uplift delivering a strong KPI metrics across its divisions.
Of particular note, the operator points to its ongoing digital improvements with Ladbrokes expecting to reveal a Q3 2016 new revenue uplift of 33% on corresponding 2015 performance.
The bookmaker details strong activity on its sportsbook and gaming products which have yielded increased staking driven by an increase in active player numbers.
Ladbrokes Trading Update – Q3 2016
Updating investors, Ladbrokes governance detailed that growth had been achieved by a continued strategic focus on its recreational customer base, with growth in BetStation platform and football markets.
With regards to its retail division, the operator was further able to offset continued poor horse racing festivals (Goodwood and York) by the improved delivery of its multi-channel strategy which has delivered ‘over 120,000 actives’ since its launch.
A pleased Jim Mullen, Chief Executive, commented on corporate performance “We’ve emerged from a busy summer of sport with more evidence that our strategy of appealing to the recreational customer is delivering growth and we remain confident of delivering full year results in line with our expectations.
“Across all our key pillars we have been encouraged by the customer reaction. We have delivered growth for a fourth successive quarter in Group net revenue, and in Ladbrokes.com an eleventh in sportsbook staking and an eighth in gaming. In Australia, we’ve continued to enjoy tremendous success across all measures in the form of improved margin, strong staking and actives growth.
“Our margin has been resilient, benefitting from our strategy of focusing on the recreational customer, deploying BetStation across the estate and growing in football. This margin has been in spite of loss-making racing festivals at Goodwood and York; I said at our half year results in August that sporting results would turn against us and in Racing they promptly did. However, we did enjoy a strong end to the Euros and a stuttering start to the season for Manchester United and Barcelona has been in our favour. With the Melbourne Cup, an action-packed Boxing Day, the return of the National Hunt season and