Paddy Power Achieves Record Operating Profit in 2014

Paddy Power booked huge increases of net income, gross and operating profit last year, even though they had to review their position in the Italian market.

Shareholders of the Irish firm will be paid EUR 392m in dividends while they have booked a net revenue of EUR 882m, which shows an increase of 18% compared to the numbers of the previous year. The Irish betting site also registered growth in their gross profit (16%) and also in their operating income, which showed a remarkable rise of 21%, and is, according to UK gambling news a record number for them.

The online gambling site has to review their situation in Italy, because they expected more profit in the Mediterranean country. Despite the fact that they were disappointed in the Italian market, their numbers were still good enough. Their shop portfolio has also grown up to 322 sites in the UK and to 243 shops in the land-based network in Ireland.

Exploiting the advantages given by mobile gaming

One of the most important things that the bookmaker noted in connection with their successful year was that 55% of these statistics came from mobile betting activities. After all these incredible numbers no wonder that Chief Executive of Paddy Power, Andy McCue, could not stop praising the Irish firm’s results from last year.

“2014 was an excellent year for Paddy Power with robust double digit growth in stakes, revenues and profits, and a marked increase in customer acquisition. We are strongly positioned in the key growth areas of online and mobile, whilst also benefitting from a differentiated and resilient retail presence. We continually develop and adapt to anticipate the needs of customers and maintain an edge in the market.”