Bloomberg News

Ladbrokes Delays New Website to Year-End, Sunday Telegraph Says

July 29, 2012

Ladbrokes Plc (LAD) will again postpone the debut of its new website to the end of the year after poor customer feedback and technical problems, the Sunday Telegraph reported, without saying where it got the information.

Richard Glynn, chief executive officer of the U.K. operator of about 2,100 betting shops, will tell investors this week the delays will cut first-half digital profit to about 50 percent of the 31 million pounds ($49 million) achieved a year earlier, the newspaper said.

As a result, full-year profit may fall to the lowest since 2004, according to an analyst quoted in the article. Ladbrokes issued a profit warning for its digital operations on June 28, sending shares tumbling as much as 14 percent.

To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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