Much lower earnings forecast by Ladbrokes

UK betting shop operator Ladbrokes fell the most in 15 months yesterday after saying full-year earnings from online gambling may be less than half the amount predicted by analysts. CEO Richard Glynn said digital earnings were “disappointing, reflecting a lack of competitiveness in sportsbook, lower margins than planned and a greater disruptive impact than expected from the transition necessary”. Operating profit before exceptional items from the online unit will be £10m to £14m this year, while the average analyst estimate had predicted £27.5m.