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Ladbrokes profits up strongly on 'bookie friendly' results

Ladbrokes has actually reported a ₤ 25.2 m profit for the first six months of the year compared to in 2015's ₤ 51.4 m loss.

The bookie says this promotion code strong, external performance remains in part due to "sporting gods" being on its side.

It cites a run of "bookie friendly" outcomes, like that of the European Championship, where England and Northern Ireland exited early.

Ladbrokes, which plans to merge with competing Coral, says a run of "client friendly" results will follow.

It says it remains in talks with potential buyers for around 400 shops it needs to cost the merger to go through.

The outcomes show that customers are responding positively to the business's new technique "at a time when the sporting gods have actually typically been on our side and we have actually taken pleasure in some useful bookie friendly outcomes", said primary executive, Jim Mullen.

"History would strongly dictate that such a run of lead to our favour would see customer staking suffer, however encouragingly these numbers strongly buck that trend and combine strong staking and a good margin."

"However, 130 years of experience in sports wagering has actually revealed us that we will sustain a run of client friendly outcomes and margins will normalise," he added.

Biggest bookmaker

Ladbrokes, the UK's second-biggest bookie, revealed its scheduled ₤ 2.3 with Gala Coral, the third-biggest, in July last year.

The deal will make it the largest bookie in the yohaig code nation, however last month the Competition and Markets Authority, external stated it had determined 642 areas where the merger would strike competition.

It stated the two business must sell in between 350 and 400 look for the merger to be cleared.

In its outcomes statement, Ladbrokes said it was "engaging" with potential purchasers and remained hopeful that a competitive procedure might be completed by the end of September. It would then aim to begin "considerable" restructuring of business before the end of the year.

Ladbrokes' shares were up 5% in early morning trading.