Paddy Power forecasts operating profit of €180m for 2015

Paddy Power forecasts operating profit of €180m for 2015Paddy Power has revealed that it expects to achieve an operating profit before exceptional items of €180 million ($195.6 million) for the 12 months through to December 31.

The figure, which has been forecast based on trading in the seven weeks until December 31, would result in fully diluted earnings per share of approximately €3.33, before costs related to the company’s pending merger with Betfair.

Paddy Power was also able to use the trading update to confirm a final dividend of €1.20 per share, which takes the full-year regular dividend to €1.80 per share.

Meanwhile, the bookmaker has announced that its pending merger with Betfair still remains on track to be completed by February 2.

Approved by Ireland’s competition regulator earlier this month, the merger will create a new entity worth approximately €7.1 billion.

Paddy Power also noted that it expects to file its preliminary results for the year ended December 31, 2015, on March 8.

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