Interim profits at Power Leisure, parent company of Irish bookie Paddy Power, have more than doubled to euros 9.26 million from euros 4.32 million, with revenue jumping from 206 million to 319 million euros. But the company said that the figures were flattered by comparison with a period which had been dented by the foot and mouth epidemic.
Online and telephone betting helped Power Leisure's results: turnover in the Dial-a-Bet division was 59.2 million euros, up 168% from 22 million euros due to a big increase in the number of punters and because they were betting more; online turnover at paddypower.com grew to 41.4 million euros from 14 million euros - an increase of 196%.
The group has 129 betting shops in Ireland and the UK and has applied for
licences to open a small number of outlets in 2002-03. Earlier in the year,
the company said: "Our focus remains on developing online interactive channels
in the UK and continued expansion of our telephone betting and licensed betting
office business in Ireland."
A year ago, there had been reports that the company would move a large chunk
of its operations to Malta, where it had been awarded a betting licence, but
the December 2000 Irish tax reduction and the company's successful flotation
seem to have postponed the move.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment