London: Bookmaker Ladbrokes said its first-half group operating profit fell by a third to 56.8 million pounds ($95.2 million) after it was hit by switching its online operations to a new platform, but said it had a good World Cup performance.
Chief Executive Richard Glynn, who had come under pressure from some shareholders, said the operational improvements were delivered in time for the World Cup.
"Our World Cup performance demonstrated that we now offer, across the Group, a more competitive product with an encouraging customer response across all channels," he said.
Staking on the soccer competition in Brazil grew more than 20 percent on 2010, it said.
The fall in operating profit was broadly in line with market expectations, with analysts expecting 55.7 million pounds on average, according to a company-compiled consensus.