Wednesday September 23, 2020

Paddy Power Betfair merger punt paying off

Higher than expected cost savings lead to earnings upgrade

4th November, 2016
Paddy Power Betfair says integration going well. Pic: Getty

Shares in gambling group Paddy Power Betfair jumped in Dublin this morning after it lifted its earnings target for this year on the back of strong third quarter figures.

The shares were almost 3.8 per cent higher at €99.83 in early trading in Dublin.

Shares hit a high of €140 earlier this year, but have fallen back since the Brexit vote in late June, with disappointing first-half figures from Australia also dampening enthusiasm.

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