Ladbroke warns of lower margins

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The Independent Online
Ladbroke warns of lower margins

LADBROKE, the hotels and gaming group, has warned of lower than expected margins at its UK betting chain, though overall trading is satisfactory, the company said. Ladbroke blamed poor weather at sporting events for the downturn at its bookmakers.

Ladbroke reported underlying full-year profits up 22 per cent at pounds 276.9m. This was in line with indications given when it unveiled a pounds 1.2bn agreed bid for Stakis last month. Ladbroke posted its offer document yesterday.