Having invested in the digital side of its business, Ladbrokes has reported "another period of progress" for the first quarter of the year.
The company has announced an 8.9 per cent increase in group net revenue for the three months ended March 31, 2012, along with group operating profit of £50.4m, which was 3.9 per cent higher than Q1 2011.
"This has been another period of progress for Ladbrokes," said chief executive Richard Glynn. "We have invested considerably more in digital marketing and customer acquisition remains strong. We are starting to see this drive growth in the topline, particularly in the key focus area of UK sportsbook, which was up 22 per cent."
The group saw a 22.4 per cent growth in sportsbook net revenue driven by strong increase in stakes and increase in margin. Mobile now accounts for 20 per cent of sportsbook amounts staked.
Ladbrokes bet in play offers bets on more football matches than any other provider according to the latest Gambling Compliance survey data.
Glynn added: "Our football bet in play offer is now leading the market with up to 800 matches per week. We are continuing to deliver on our trading and digital milestones with further developments expected in the coming months. As stated in February, we are confident of delivering digital profit growth during the second half of the year as the benefits from our investments converge."
The group is in line with the board's expectations for 2012 and is looking ahead to a full live launch set for May of its new website in live customer testing.
