Few fireworks in Ladbrokes trading update

In a trading update issued Thursday, online and land gambling group Ladbrokes said that it expects group operating profit for the year ended 31 December 2013 to be around the middle of the current range of analysts’ forecasts (GBP 129.8 million to GBP 151 million) and to be consistent with guidance given to the market on 14 November 2013.

The company is scheduled to post its full year results on Tuesday 25 February 2014.

The trading update notes that the upgrading of the gaming machines estate will be completed in time for the World Cup in June 2014 and that the new Ladbrokes mobile offer, on the Mobenga platform, was successfully launched in December 2013.

It makes a special mention of its progress on initiatives designed to boost digital performance, which it claims as on track to deliver results in the second half of 2014 and beyond.

Management says that it intends to hold the total dividend per share at its current level (8.90p per share in 2012) in 2013 and additionally, at least maintain it at this level in 2014.

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