Paddy Power operating profits boosted by Australia and mobile

 

Dublin-based Paddy Power has seen its profits rise by 31 percent, despite large investments in expanding into Italy.  Cormac McCarthy, chief financial officer, attributed the strong growth to good performance in the Australian market and being ahead of the curve in the company’s online and mobile business.  Revenue from smartphone and tablet betting rose 185 percent to US $167.6 million and sales in Australia rose by 46 percent.