BBC – Bookmaker Ladbrokes has reported a sharp fall in profits, hit by costs related to an upgrade of its online offering. Pre-tax profits for 2013 were £67.6m, down 66% on 2012, dragged down by £51.6m in exceptional costs driven largely by a software upgrade. Chief executive Richard Glynn admitted the results were “disappointing”, but insisted it had made “real operational progress”. It will shut 40 to 50 shops this year. Ladbrokes formed a tie-up with software developer Playtech last year and is now switching its gaming products to a new system. It is aiming to complete the upgrade by…