PADDY’S BIG SAVE

Daily Mirror - - CITYDESK -

Paddy Power Bet­fair says it is odds-on to hit cost-cut­ting tar­gets a year early. The gambling giant, which com­pleted a £7bil­lion tie-up in Fe­bru­ary, is set to save £65mil­lion by next year – £15m more than ex­pected. How­ever, the slim­ming down of the firm has so far re­sulted in 650 job losses. Merger costs also saw it plunge nearly £50m into the red be­tween Jan­uary and June, from a £106m profit a year ago. But profit was up a third af­ter strip­ping those costs out and the group hailed a £22m boost from football bet­ting dur­ing Euro 2016. Paddy Power ran a tongue-in-cheek TV ad­vert en­cour­ag­ing fans in Scot­land – which failed to qual­ify – to bet on Eng­land to flop. It seemed to work...

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