Ladbrokes launches Irish restructuring, redundancies 'likely at all levels'
21st Apr 2015 14:38
Less than a month after taking charge, Ladbrokes' new chief executive Jim Mullen has put the bookmaker's lossmaking Irish business into examinership in order to conduct a major restructuring. Examinership, a less onerous administration provision than that of the UK, will allow management to restruct
Read moreLondon pre-open: CRH and TSB in focus
20th Mar 2015 07:44
The top flight index is being called to start the session higher by between six to seven points on a busy Friday morning in terms of news-flow. Somewhat unexpectedly, overnight Greece agreed to draw up new reforms to meet the requirements of its lenders. "The odds of a Greek exit have risen signifi
Read moreLadbrokes appoints digital chief Jim Mullen as new chief executive
20th Mar 2015 07:16
Ladbrokes has appointed a new chief executive in the shape of its current online chief Jim Mullen, who will take over from incumbent Richard Glynn on 1 April. Prior to working at Ladbrokes, Mullen was chief operating offer of online operations at William Hill. Ladbrokes chairman Peter Erskine said:
Read moreFTSE 250 movers: Retailers and energy stocks surge, ex-dividend insurers lower
19th Mar 2015 13:44
Supergroup made strong gains after Investec said a focus on retail execution and UK profit maximisation was a "major opportunity". The broker reiterated its 'buy' rating, with analyst Kate Calvert adding: "We see material growth opportunities, not only in maximising UK profitability by optimising it
Read moreBudget preview: Osborne's expected pre-election pledges
17th Mar 2015 16:15
On Wednesday, George Osborne announces his pre-election Budget, with several industries expected to see major proposals to woo voters and businesses. The Chancellor will deliver his budget speech to the House of Commons at 12:30, around a week before parliament adjourns ahead of May's general electi
Read moreFTSE 250 movers: Ladbrokes up after maintaining dividend, Playtech achieves record revenue and earnings
26th Feb 2015 14:18
Ladbrokes was boosted as it revealed it will not cut its 2015 dividend, despite posting a 14% drop in annual profit. Analysts had expected the group to make the cut to help fund marketing expenses, but the group will maintain an 8.9p dividend per share this year. In December, the group began a searc
Read moreLadbrokes to maintain annual dividend despite profit slump
26th Feb 2015 07:59
Bookmaker Ladbrokes said it will not cut its 2015 dividend, despite posting a 14% drop in annual profit. In 2014, revenue grew 3.8% to £1.16bn but due to a £8m hit on Boxing Day operating profit fell to £125.4m, falling slightly short of consensus forecast of £128.8m, while profit before tax fell 13
Read moreFTSE 250 movers: Ladbrokes hit by job cuts, DS Smith boosted by Duropack acquisition
23rd Feb 2015 16:33
Ladbrokes topped the fallers after it was reported on Sunday the company would be announcing the closure of roughly 50 betting shops due to the challenge of tax rises and regulation. The company is expected to outline the plans at its full-year results presentation on Thursday. Premier Oil was lower
Read moreLadbrokes to replace CEO Richard Glynn after five-year term
3rd Dec 2014 07:23
Ladbrokes is looking to replace its chief executive Richard Glynn, who was given the task of implementing a recovery programme within five years following his appointment in 2010. The high street bookmaker said it was starting a process to identify his successor and Glynn would stay with the busines
Read moreFTSE 250 movers: FirstGroup leads fallers as TalkTalk jumps
24th Nov 2014 16:25
FirstGroup took a hit amid claims it has missed out on the opportunity to acquire the East Coast mainline. It seems the company's bid will be overlooked in favour of Eurostar and Keolis when the government releases a statement on the final decision this week. FirstGroup has failed to win several pre
Read moreLancaster family top up on DSL as year-end approaches
28th Oct 2014 15:40
The family of Mark Lancaster, the chief executive of translation and localisation services provider SDL, has increased its stake in the company just over a week after the company's well-received third quarter results. Isabel and Maria Lancaster, two "connected persons" of Lancaster, purchased 10,000
Read moreLadbrokes chairman shows faith after shares fall
24th Oct 2014 16:48
Peter Erskine, the chairman of gaming company Ladbrokes, on Friday lifted his holding in the bookmaker one day after it pulled out of its operations in Canada following tighter regulations on UK licensing of international activities. The news prompted shares in the bookmaker to decline more than 6%
Read moreLondon close: Supermarket share slump limits market gains
23rd Oct 2014 16:15
UK supermarkets held back London shares on Thursday after beleaguered Tesco reported lower first half profits and said the hole in its accounts was bigger than thought. Shares in Tesco led the FTSE 100 Index fallers with a 12p slump to 171p as the group said trading profits dropped 39.4% at constant
Read moreThursday broker round-up UPDATE
23rd Oct 2014 08:33
Abcam: FinnCap moves target price from 390p to 400p keeping a hold recommendation. Anglo American: Investec places its target price (prev.: 1603p) under review keeping its buy recommendation. Arbuthnot: Numis raises target price from 1150p to 1300p upgrading from hold to add. British American Taba
Read moreLadbrokes says favourable sports results keep it on track
23rd Oct 2014 07:30
Bookmaker Ladbrokes said a string of more favourable sport results had kept it on track to hit full-year targets, although it said that would depend on "usual" conditions in the rest of the year. The group said its UK retail net revenue rose 6% in the third quarter as better football results resulte
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