In its trading update for the four months ended 30 April 2006, Ladbrokes plc reported that its gross win in eGaming rose by 26% and in Telephone Betting by 43%. Profit from continuing operations, before interest and tax, increased during the period by 5% and total gross win rose by 11%. The company’s European Retail division, which includes Vernons, saw a gross win increase of 7% despite more than double the number of lost race meetings from the same period last year.

Commenting on the update, Christopher Bell, CEO Ladbrokes plc said: “We have had a positive start to the year and are trading in line with our expectations. As we approach the busiest part of the sporting year, with the Epsom Derby meeting, the World Cup in Germany and Royal Ascot to look forward to, I am confident about the prospects for the business.”

Earlier this year Ladbrokes sold Hilton International to Hilton Hotels Corp for £3.3billion (US$6.2 billion). Prior to the payment of a special dividend of 233.4p per share on 25 April, interest income of £24m was earned on the proceeds received on the sale of the hotels division. In eGaming there has been a 32% rise in operating costs, driven by planned customer recruitment campaigns around major sporting events and in anticipation of the World Cup. (E-05.26.06)

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