UK bookmaker Ladbrokes has insisted it is still “within range” of reaching analysts’ profit forecasts for 2013 despite ongoing speculation that it could be forced to cut estimates further due to what it described as “recent adverse sporting results”.
“Ladbrokes notes market speculation with respect to recent adverse sporting results,” Ladbrokes said.
“Current expectation for Group performance for 2013 remains within the range of analyst EBIT forecasts for the full year (£138 million – £151 million). But with a key part of the sporting calendar ahead it is extremely premature to speculate on the outturn for the year.”
In September, Ladbrokes issued a warning that full-year financial results for its online operations would be below expectations.
“Our digital earnings have been disappointing reflecting a lack of competitiveness in sportsbook, lower margins than planned and a greater disruptive impact than expected from the transition necessary to grow digital for the long term,” Ladbrokes chief executive officer Richard Glynn said at the time.
source : www.igamingbusiness.com
