LONDON, June 28 Britain's second-biggest
bookmaker Ladbrokes said on Thursday profits from its
digital division would fall more than expected in the first half
due to a delay in technology upgrades and a poor sportsbook
Ladbrokes, which has been talking up its investment in its
internet business in recent months, said it now expected digital
profits in the first half to be down further than expected, at
around half that delivered in the first half of last year.
However, due to a stronger performance in other parts of the
business including the retail division, Ladbrokes expects to
meet overall market expectations and believes it will grow
digital profits in 2013 and beyond.
"As stated previously, we anticipated that the phasing of
our investment programme, increased marketing expenditure,
planned operational losses associated with new international
licences and the withdrawal from certain international markets
would result in a decline in digital profits year over year,"
the group said.