Paddy Power says trading in line with expectations

The bookmaker said strong underlying growth offset unfavourable sporting results

Paddy Power says online sports betting stakes rose by 23% in the period since July 1

Paddy Power said it continues to expect full-year operating profit to grow by the mid to high single digits despite recent unfavourable sporting results.

In a trading statement covering the period since July 1, the bookmaker said trading has been in line with its expectations as strong underlying growth offset the sporting results.

It reported revenue growth of nine per cent as sports betting stakes rose 23 per cent in its online business ...