Group
· Group net revenue (1) up 8.9%
· Group operating profit (1)(2) of £50.4 million was 3.9% higher reflecting growth in UK and European Retail and the anticipated reduction in Digital due to a planned increase in investment
UK Retail
· Machine net revenue up 21.7% with gross win per terminal week of £923 (Q1 2011: £791)
· Continued resilience in OTC amounts staked which were up 0.6%
· OTC gross win margin of 17.2% (Q1 2011: 17.2%)
Digital
· Momentum in customer acquisition with continuing double digit growth in digital sign ups and actives
· 22.4% growth in sportsbook net revenue driven by strong increase in stakes and increase in margin
· Mobile now 20% of sportsbook amounts staked (Q4 2011: 15%)
· Ladbrokes Bet in Play offering bets on more football matches than any other provider according to latest Gambling Compliance survey data
· New website in live customer testing with full live launch set for May
· New contract with Openbet enhances flexibility of development whilst further expanding games content
Richard Glynn, Chief Executive, commented:
"This has been another period of progress for Ladbrokes. UK Retail saw another quarter of strong growth in machines revenue. OTC staking remains resilient and gross win margin, helped by a better Cheltenham festival, was at the upper end of our historical range. We have invested considerably more in digital marketing and customer acquisition remains strong. We are starting to see this drive growth in the topline, particularly in the key focus area of UK sportsbook which was up 22%. Our football Bet In Play offer is now leading the market with up to 800 matches per week. We are continuing to deliver on our trading and digital milestones with further developments expected in the coming months. As stated in February, we are confident of delivering Digital profit growth during the second half of the year as the benefits from our investments converge. At this early stage of the year we are in line with the Board's expectations for the Group in 2012."
