Ladbrokes issued weak Q3 15 figures but in line with the market's expectations. EBIT halved, hampered by intensified marketing spend and an unfavourable tax framework in the UK (increased MGD, PoC tax on Digital, exit from unregulated digital markets, £50 maximum stake for machines), while the FIFA World Cup held in July last year made comps demanding. UK Retail showed a 1% drop in net revenue (+1.1% excl. World Cup) with unfavourable horseracing results impacting the OTC margin (-1.5pp
02 Nov 2015
Early benefits from the new strategy
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Early benefits from the new strategy
Ladbrokes Coral Group (LCL:LON) | 0 0 1.4% | Mkt Cap: 3,187m
- Published:
02 Nov 2015 -
Author:
Bérénice Lacroix -
Pages:
3
Ladbrokes issued weak Q3 15 figures but in line with the market's expectations. EBIT halved, hampered by intensified marketing spend and an unfavourable tax framework in the UK (increased MGD, PoC tax on Digital, exit from unregulated digital markets, £50 maximum stake for machines), while the FIFA World Cup held in July last year made comps demanding. UK Retail showed a 1% drop in net revenue (+1.1% excl. World Cup) with unfavourable horseracing results impacting the OTC margin (-1.5pp