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Annual Results

Paddy Power Betfair's FY pretax profit slides, posts divi

07 March 2017 07:21

Paddy Power Betfair's FY pretax profit has slid down to £11.9m, from £124.5m, in what it penned as a transformational year for the company.

It added that trading in 2017 to date had been in line with its expectations.

Final dividend was 113p a share, with the total at 165p. Revenue rose 18% to £1.55bn, with double-digit growth across all four operation divisions.

CEO Breon Corcoran said 2016 was a transformational year for Paddy Power Betfair with much of the integration of the businesses completed sooner and more efficiently than expected.

"The integration of our technology platforms is on track and customers are already seeing some benefits, including more markets and better odds," the wagering outfit said in a statement.

"We have created a business with considerable scale that is stronger and better able to compete than either of the individual legacy companies. The Group is well positioned to deliver sustainable, profitable growth".

Story provided by StockMarketWire.com

Related Company: PPB

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