Profits are down at bookmaker Ladbrokes and the company's share price is down this morning (August 8th) as a result of its latest financial results.
It was confirmed by the company that its revenues from its UK betting shops has been worse than it had previously expected.
Pre-tax profits for the first six months of the year were down 49 per cent at £55.1 million, it was announced by the firm in its latest financial data.
Ladbrokes said returns from its gaming machines in July were also hit by the UK's "prolonged period of hot weather".
Despite this fall in its profits, Ladbrokes is moving forward with plans to open another 30 betting shops across the UK by the end of the year. So far in 2013, it has opened 73 new stores.
In early trading this morning, the share price of Ladbrokes has fallen sharply on the back of the news of its latest profits.
At 08:30 BST, its stocks were down by more than five per cent on the start of the day's trading.
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