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Hilton releases positive first half figures
Hilton International has published its figures for the first half, revealing a strong performance in the six months to 30 June 2001.
The group's profit before taxation and exceptional items was up 32.6 per cent on last year's figures to £144.3m. Hilton International itself noted an encouraging improvement - turning over £126.3m compared to last year's £111m on a like-for-like basis.
The Ladbrokes arm of the group noted a 24.4 per cent improvement on last year, with a particularly good performance from European retail betting, despite the UK being hit by foot and mouth, which caused the cancellation of 169 racehorse meetings. Ladbrokes benefited from a major increase in eGaming, which was up to £62.8m compared with only £7.7m last year. Ladbrokes has also recently signed a deal with Playboy Enterprises to operate an online casino under the famous Playboy name.
Group chief executive David Michels remained cautious about the economic uncertainty facing the company but said that further expansion would follow, including the LivingWell chain of health clubs, adding: Hilton Group is in a good shape to capitalise in the medium term on the significant growth opportunities for both divisions.