Ladbrokes says it's on track - but will markets buy it?

Gaming company Ladbrokes has said it expects operating profit for the year ended 31 December 2013 to be roughly in the middle of the current range of analysts' forecasts of £129.8m to £151m

It also confirmed that the upgrading of the gaming machines estate will be completed in time for the World Cup in June 2014 and the company's new mobile offer, on the Mobenga platform, was successfully launched in December 2013.

The digital gaming market have become a key focus for the group which has been squeezed by competitors such as William Hill and Paddy Power.

Ladbrokes recently moved to enhance its digital service on smartphones and tablets by collaborating with specialist firm Chelsea Apps Factory.

However, despite these moves to shakeup the company's performance, some remain sceptical it will be enough to improve the fortunes of the troubled bookmaker.

Earlier in the week, Numis analyst Ivor jones, said:

Despite sporting results continuing to improve since the dip [in the third quarter of 2013], we believe there is scope for the consensus to come down further and feel this is more likely as a result of the unusual timing of the trading statement.