Reporting results for the 26 weeks to June 27, the company said net revenues increased three per cent compared to the same period a year earlier, to £837 million, but pre-tax profits fell 7% to £93.5 million.
The company’s H1 report cited higher "exceptional costs” as a result of implementing its transformation programme as the cause of the year-on-year drop in profits.
Philip Bowcock, chief executive officer, said: "The first half of 2017 has seen good progress against our three strategic priorities and wagering growth across all four divisions. Our product improvements combined with improved marketing have seen both existing customers respond positively and the number of new customers start growing again during the period. As a result we are seeing good momentum building in our online performance.”
"In retail, we made market share gains, with growth in both sports betting, despite the lack of a major international football tournament and gaming revenues. Internationally, our US business continues to perform well and in Australia, with the upcoming Spring Carnival key to the full-year results, we are competing hard and diversifying our product range,” Bowcock added.
Source: GMB / Inter Game Online
