Ladbrokes gallops to profit rise

Ladbrokes’ shares jumped almost seven per cent yesterday as the bookmaker posted a 3.9 per cent profits rise to £50.4m in its first quarter. The London-listed company grew revenues 8.9 per cent, boosted by favourable results at the recent Cheltenham horse racing festival. Ladbrokes pointed to its digital division, where revenues increased by 5.9 per cent, as a source of growth despite a profits fall in the online unit due to a £50m two-year investment programme.