Australia boosts Paddy Power profit to record levels

Irish Times – Strong growth in bookmaker Paddy Power’s Australian business compensated for a tougher time nearer home and played a key role in increasing its profits by 1 per cent to a record €141 million last year. Paddy Power yesterday reported an increase in net revenue in 2013 to €745 million from €663 million the previous year and said that pretax profit was up 1 per cent at €141 million from €139.2 million. Operating profit grew at a similar rate to €137.4 million in 2013 from €136 million in 2012. However, “adverse results”, including a large number of fancied…