Net gains: World Cup helps Ladbrokes owner swing to profit during first half

Profits at Ladbrokes owner GVC were boosted by the World Cup in the first half of the year, help ing offset woes linked to the Beast from the East. The sports betting and gaming group, which completed its £4 billion acquisition of Ladbrokes Coral in March, posted a pre-tax profit of £113.6 million in the six months to 30 June, compared to a loss of £22.8 million last year. Revenue jumped 8 per cent to £1.7bn and operating profit rose 17 per cent to £278m. The firm also said it awaits an implementation date for cutting the maximum stake for fixed-odds betting terminals.