Paddy Power plc today announces results for the 6 months

Paddy Power plc today announces results for the 6 months

September 6, 2006.

Interim Results for the 6 Months Ended 30 June 2006
Paddy Power plc today announces its interim results for the six months ended 30 June 2006.

Financial highlights included:

Turnover up 27% to €878m with growth across all channels. World Cup finals generated turnover of €48m, €37m of which related to matches played by 30 June.
Gross win up 30% to €105m boosted by 83% increase in win from online gaming and FOBTs.
Operating profit up 11% to €19.6m after inclusion of a once-off cost of €4m relating to our decision to introduce 'tax-free' betting into our Irish shops early. Profit before tax up 12% to €20.5m.
Interim dividend up 22% reflecting intention to increase the full year dividend payout ratio to 40%.
Business highlights included:

Continued expansion and promotion of our online gaming businesses as exemplified by our sponsorship of the Irish Open poker tournament, Ireland's first ever guaranteed €1m poker event.
Launch of three new online businesses: 'reverse auctions' in January, a German language sportsbook in April and bingo in July.
Exceeded 200 retail outlets with four new opening in Ireland and six in the UK taking the total estate to 205.
Commenting on the results Patrick Kennedy, Chief Executive, Paddy Power plc said:
"Our business has grown substantially in the first six months of the year. Turnover, gross win and profits have grown in each of our three divisions, and in addition, we have launched three more new businesses. We look forward to the rest of the year and beyond with confidence."