Paddy Power, Ireland's largest bookmaker, has reported a strong increase in its full-year figures for 2007, as the group's bottom line was boosted by losing favourites, innovative unusual bets and an increasingly successful online offering.
Turnover for Dublin-based Paddy Power totalled €2.03bn in 2007, up 13 per cent on the €1.8bn in the previous year. Profit after tax was up 52 per cent to €62.8m.
The company’s results were buoyed in part by a 20 per cent increase in online turnover to €630m.
Patrick Kennedy, Paddy Power’s chief executive, said that the company continued to look at opportunities to expand its global internet operation after its €6m investment in Spanish and German-language websites.
