Punter comeback halted Paddy Power Betfair gallop
After news of chief executive's departure, company reports Q2 growth slowdown
Paddy Power Betfair (PB), which yesterday announced thatits chief executive Breon Corcoran would be leaving the company after 16 years, this morning reported first-half results which showed that a weaker second quarter slowed growth in earnings and revenue after a strong start to 2017.
The company’s shares fell by more than 5 per cent after yesterday’s statement, which included news that Corcoran would be replaced by Peter Jackson, current head of the UK ...