Analyst Views | Has Ladbrokes’ profit warning changed your outlook for the group?

Kasmira Jefford
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Simon French Panmure Gordon

Ladbrokes has unexpectedly released its first trading update, with trading disappointing...Therefore, we are downgrading our full-year profit forecasts by around £12m...We retain our “hold” recommendation, highlighting the limited growth and visibility at this stage in turnaround of Digital.

Nick Batram Peel Hunt

A downgrade now was not unexpected although the scale is slightly more than anticipated. There is still much to prove at Ladbrokes but, in a sector where there is considerable corporate activity, now is not the time to get off the Ladbrokes horse.

Simon Davies Canaccord Genuity

This is a disappointing update, and a weak first quarter is likely to be exacerbated by the impact of the Playtech tie-up in Digital. There is considerable uncertainty as to the timing of migration to Playtech platform...As a result, we are downgrading our full year forecasts from £182.2m to £160.8m.