Paddy Power Betfair and Grafton results - the key points
Shares in Paddy Power Betfair slide as Grafton gains after results
Bookmaker Paddy Power Betfair and builders merchanting firm Grafton Group are the latest companies to release their results for 2016. Grafton reported a strong set of results, including a 14 per cent rise in pre-tax profit to £136.2 million and record revenues of £2.5 billion. Meanwhile, revenue and underlying earnings rose strongly at Paddy Power Betfair, although the company reported a pre-tax loss of £5.7 million compared to a profit of £108.2 million a year earlier, mainly due to the costs of the merger of the two bookmakers. Here are the key points from the results:
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