CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Ladbrokes shares down on profits fall

Article By: ,  Financial Analyst

Profits are down at bookmaker Ladbrokes and the company's share price is down this morning (August 8th) as a result of its latest financial results.

It was confirmed by the company that its revenues from its UK betting shops has been worse than it had previously expected.

Pre-tax profits for the first six months of the year were down 49 per cent at £55.1 million, it was announced by the firm in its latest financial data.

Ladbrokes said returns from its gaming machines in July were also hit by the UK's "prolonged period of hot weather".

Despite this fall in its profits, Ladbrokes is moving forward with plans to open another 30 betting shops across the UK by the end of the year. So far in 2013, it has opened 73 new stores.

In early trading this morning, the share price of Ladbrokes has fallen sharply on the back of the news of its latest profits.

At 08:30 BST, its stocks were down by more than five per cent on the start of the day's trading.

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