SOURCE: inthenews.co.uk

Good wins on World Cup bets last year has helped bookmaker Ladbrokes lift profit by nearly ten percent.

Wins for the bookmaker during 2006 were up to £1,008 million, up from £918 million in 2005. The 2006 FIFA World Cup in Germany helped bring in £17.5 million in wins to the company.

It reported an operating profit of £268 million, up from £249 million. Shareholders earned 22 pence per share and Ladbrokes has proposed a dividend of 8.6 pence per share.

Commenting on the results, chief executive Christopher Bell said: "We can look back on a year of achievement, both at home and internationally and we are pleased to post a record profit performance.

"We began the year by selling the hotel division, delivering one of the biggest returns to shareholders on record and announcing our consultancy in China."

Mr. Bell said an expansion of both the online and retail sector has helped increase revenue. It has also expanded international operations by winning licences in Italy.

"Early trading in 2007 has been satisfactory with good football results but more cancellations of horse racing fixtures this year than last," he said.