Entain has today reported a 12% rise in annual adjusted core profit and said it was comfortable with market expectations for 2025 after a strong start to the year.

The owner of the Ladbrokes brands, whose CEO departed suddenly last month, said its adjusted core earnings grew to 1.09 billion pounds ($1.41 billion) at constant currency levels, helped by online revenue growth and earlier-than-expected recovery in its UK & Ireland business.

Market expectations for fiscal 2025 are for core profit of 1.11 billion pounds, it said.

Stella David, Interim CEO of Entain, commented: “2024 has been a year of transformation for Entain. I am delighted to see that our strategic and operational improvements are translating into strong performance; clear evidence that our strategy is delivering. I want to thank all my colleagues for their tremendous hard work and resilience.

Entain has a high quality portfolio of iconic brands with podium positions in attractive markets. Our return to organic growth is the beginning of our rebuild journey; our momentum continues, and we have started the year strongly. I am incredibly proud of our achievements so far and look forward to our opportunities ahead.”