In its latest trading update, for the four months ended 30 April 2007, Ladbrokes PLC says it anticipates that results for 2007 will be in line with expectations. The company continues to focus on international development opportunities in Europe and Asia, with the fastest advance in Italy. Growth in its Irish betting shops is described as buoyant but challenging in the UK. Ladbrokes cannot predict future Over The Counter (OTC) trends, partly due to the advent of year round evening opening.

Good progress has been made with the renewal of Fixed Odds Betting Terminals (FOBTs) and eGaming shows steady growth. Total gross win was up 5% compared to the same period last year, but only up 2% if High Roller impact considered. Profit for the four months is in line with 2006 although down 10% when High Roller results included. UK Retail gross win increased 1% with OTC gross win down 3% following a reduction in total amounts staked.

Rollout of the new FOBTs was completed by the end of March and average gross win per FOBT was £613 compared to £534 for the same period in 2006. Average gross win continues to improve. However, costs have gone up by around 9% including 4% from licence duty on FOBTs. Ireland and Belgium Retail saw a 23% jump in gross win, due a particularly strong performance from the enlarged Irish estate.

Gross win for eGaming showed an 11% increase from good growth in Sportsbook, Casino and Games but was partially offset by a decline in Poker where, according to Ladbrokes, the competitive environment remains difficult. Active customers grew by 12%. Telephone betting gross win slid 47% due to reduced High Roller activity. (E-05.18.07)

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