Not The Best Week for Ladbrokes: Profit Warning has Investors Heads Spinning
Ladbrokes shares fell 12 percent on Thursday following a profit warning issued by the company. Profits for Ladbrokes online unit are expected to be half what they were for this period compared to last year. Follow Gambling911.com on Twitter for all the latest Ladbrokes news.
The share price fell the most in three years.
Ladbrokes CEO Richard Glynn might not be sleeping well this weekend. He did cut right to the chase in light of the profits warning.
“We don’t think this performance is anything other than a bit disappointing,” he said.
“We will recover it, we are absolutely on the right track. It’s going to be a deferral but certainly not a derailment.”
In The Telegraph, Questor weighs up the odds on Ladbrokes, which issued a profit warning for its digital business yesterday, resulting in a 12 per cent drop in the share price. The problem is, it is taken an inordinately long time to get the new website up and running, while some big sporting events have also gone against bookmakers, leaving them with annoyingly large payouts. Despite the high street operation doing well, Questor believes your money should be on William Hill, Ladbrokes is a leave.
What They Are Saying on Twitter About Ladbrokes Plight
LOL at Ladbrokes shares ! If they can't make profit with their crappy odds maybe they should stick to running arcades !
Ladbrokes shares crash by 10%....news of my departure must be filtering through to the market
Ladbrokes’ shares respond badly to yesterday’s profit warning (which actually said profits in line but mix changed)
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Ladbrokes losing battle online? Warns on 1H profits slump from digital division. Shares down 8% today
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- Aaron Goldstein, Gambling911.comSubmitted by Aaron Goldstein on Fri, 06/29/2012 - 20:56