Key Takeaways
- Ladbrokes has issued its second formal profits warning of the year..
- It now forecasts that its digital business will make between £10 million to £14 million—more than 50% below analysts expectations.
- The company expressed its confidence that the “strategy is the right one” and the Chairman of the board of directors, Peter Erskine, expressed confidence in the management team and CEO Richard Glynne.
Ladbrokes has issued a formal profits warning, its second of the year. It now expects its digital business to make between £10 million to £14 million, more than 50% below analysts’ expectations of £27.5m. Ladbrokes’ share price on the London Stock Exchange dropped over 6% on the news.
