* EBIT 136 mln eur vs analyst forecast of 138.5 mln
* Has captured 27 pct of mobile sports betting market
* Exchange rates could cut 2013 op profit by 10 mln eur
DUBLIN, March 5 Irish bookmaker Paddy Power
reported a 14 percent rise in full-year
operating profit last year as its online services drew more
punters from shops to screens.
A 31 percent rise in full-year revenue pushed operating
profit to 136 million euros from 119.5 million a year ago,
slightly less that the 138.5 million forecast by eight analysts
surveyed by Thomson Reuters I/B/E/S.
The Dublin-based group, whose operating profit rose by 25
percent in a first half of the year that included the Euro 2012
soccer tournament, said it has now captured over a quarter of
the fast-growing mobile sports betting market, around double its
share of the total online market.
"Mobile has been very, very good for us in the last year.
Our net revenue in mobile is up 185 percent to 129 million, it's
now 32 percent of our online revenue," chief financial officer
Cormac McCarthy told Reuters in a telephone interview.
"Month to month, we're seeing mobile as being stronger and
stronger and that's thematic for the business."
On a constant currency basis, the rise in operating profit
was just six percent and the group warned that a continuation of
current sterling and Australian dollar rates could reduce
operating profit by around 10 million euros this year.
Paddy Power, which has entered betting markets in Australia,
France, Canada and most recently Italy, said trading since the
end of last year had benefited from favourable sports results
with revenues up 19 percent.
That mirrored British rival William Hill, which saw
revenue rise by 20 percent in the first two months on favourable
results as it paid 424 million pounds ($643 million) for full
control of its online business.