March 28, 2017 / 6:16 AM / 4 months ago

BRIEF-Ladbrokes Coral says 2016 group revenue up 11 pct

2 Min Read

March 28 (Reuters) - Ladbrokes Coral Group Plc:

* 2016 final results

* Final results for year ended 31 december 2016

* Fy proformagroup revenue (2) of £2,351.9m, up 11 pct driven by strong growth in digital and European retail

* Fy proforma group ebitda (2) of £380.7m, up 14 pct

* Fy proforma group operating profit (2)/(4) of £264.3m, up 22 pct; digital operating profit +125 pct, european retail operating profit +219 pct (6)

* Full year dividend of 3p (1p interim and 2p final)

* Net debt of £1,089.5m, 2.86x proforma ebitda

* Cost synergy guidance upgraded from £65m to £100m.

* Ladbrokes coral - while we face some short term uncertainty with triennial review, scale, talent and agility we have in this business represent real strengths going forward

* For period 1 january 2017 to 19 march 2017, sports results have been mixed in year to date

* For period 1 january 2017 to 19 march 2017,uk retail otc margins and uk digital sportsbook margins around 1pp ahead of last year

* For period 1 january 2017 to 19 march 2017, total group net revenue was 2 pct ahead of last year after adjusting uk retail for leap-year extra day in 2016 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 80 6749 1136)

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