Flutter sees profit jump 138% as US trade reaches ‘profitability inflection point’

First half of this year was a ‘pivotal moment’ for the group, firm says

Peter Jackson, chief executive of Flutter, says US boom is “helping transform the earnings profile of the group and significantly enhance our financial flexibility”. Picture: Ferghal Phillips

Gambling company Flutter has reported adjusted profit after tax of £420 million (€488.8 million) for the first half of this year, a 138 per cent increase on the corresponding period last year.

Earnings before deductions on a pro forma basis increased 37 per cent to £823 million, according to interim results from the group.

Meanwhile, the Paddy Power owner reported revenue of £4.8 billion for the half year period, up 38 per cent year-on-year.

Average ...