Paddy Power profits look set to outdo forecasts

Bad news for punters continued to spell good news for shareholders, Paddy Power chairman Fintan Drury told the bookmaker’s AGM last week.

26th May, 2007

Bad news for punters continued to spell good news for shareholders, Paddy Power chairman Fintan Drury told the bookmaker’s AGM last week.

The company’s share price added almost 7 per cent following an upbeat trading statement which said full-year operating profits were expected to be 27 per cent higher than last year - easily eclipsing what the market had expected.

The performance was helped by difficult conditions for punters at most of the...

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