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Q1 2019 Paddy Power Betfair PLC Trading Statement Call Transcript

May 02, 2019 / 07:30AM GMT
Release Date Price: $81.88 (-3.31%)
Operator

Good day, and welcome to the Paddy Power Betfair figures update hosted by Peter Jackson, CEO of Paddy Power Betfair. My name is Nigel, and I'm your event coordinator. (Operator Instructions) I would like to advise all parties that this conference is being recorded. And now I would like to hand the call over to Peter. Peter, please go ahead.

Jeremy Peter Jackson
Paddy Power Betfair plc - CEO & Director

Thank you, Nigel. Good morning, and thank you for joining the call. With me today is Jonathan Hill. You will hopefully have had the chance to read the announcement of the release this morning, so I won't go through it in the detail. But I will just highlight a few key things here. Quarter 1 was a good quarter for the group, with reported revenues up 17%, notwithstanding adverse sports results, which cost us about GBP 20 million in revenue. At the same time we continue to make good progress across the group respect to our strategic priorities.

Looking at each of the division in turn. Revenue in our online division was up 4%. The division now

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