| 14.9°C Dublin

Paddy Power ups profit forecast on revenue jump

Close

Germany v Argentina: 2014 FIFA World Cup Brazil Final...RIO DE JANEIRO, BRAZIL - JULY 13:  Manuel Neuer and Benedikt Hoewedes of Germany celebrate after defeating Argentina 1-0 in extra time during the 2014 FIFA World Cup Brazil Final match between Germany and Argentina at Maracana on July 13, 2014 in Rio de Janeiro, Brazil.  (Photo by Julian Finney/Getty Images)...S

Germany v Argentina: 2014 FIFA World Cup Brazil Final...RIO DE JANEIRO, BRAZIL - JULY 13: Manuel Neuer and Benedikt Hoewedes of Germany celebrate after defeating Argentina 1-0 in extra time during the 2014 FIFA World Cup Brazil Final match between Germany and Argentina at Maracana on July 13, 2014 in Rio de Janeiro, Brazil. (Photo by Julian Finney/Getty Images)...S

Patrick Kennedy paddy power

Patrick Kennedy paddy power

/

Germany v Argentina: 2014 FIFA World Cup Brazil Final...RIO DE JANEIRO, BRAZIL - JULY 13: Manuel Neuer and Benedikt Hoewedes of Germany celebrate after defeating Argentina 1-0 in extra time during the 2014 FIFA World Cup Brazil Final match between Germany and Argentina at Maracana on July 13, 2014 in Rio de Janeiro, Brazil. (Photo by Julian Finney/Getty Images)...S

Paddy Power expects to make more money this year than it anticipated after it experienced strong revenue growth between July and November.

The gambling firm, which is headed by chief executive Patrick Kennedy, said it has benefited from good top-line-growth and favourable sports results.

Total group net revenue in the period was up 38pc year-on-year.

The company said it is now expecting an increase in earnings per share in the high teen percentage range, compared to the mid-teens previously.

It said that the number of active online customers is up 33pc in the period in Europe and 37pc in Australia.

The World Cup in Brazil helped to lure more customers, said Paddy Power. Like-for-like revenue growth was 16pc higher in its UK retail arm and up 11pc in its Irish retail division. Stripping out more favourable sports results, there was also solid organic growth.

Irish Independent