Strong trend at bookies' goes on

STANLEY Racing (Ireland) has continued the trend of strong financial results from the country's bookmaking firms.

Pre tax profits at the UK owned chain of 50 betting shops in the Republic in the year to the end of April, 1995, rose 71 per cent to £1.08 million even though turnover rose only marginally from £34.4 million to £35.8 million. Operating profits almost doubled from £511,673 to £1.08 million.

Stanley Racing is a subsidiary of the Liverpool based Stanley Leisure which increased its profits in the same period by 37 per cent to £17 million sterling. Stanley Leisure has indicated its interest in establishing a casino in either Dublin or Belfast.

Power Leisure, which operates the Paddy Power chain of betting shops, reported profits almost static at £1.6 million in 1994 even though turnover was up almost a quarter to £74 million. However, that profits standstill was largely due to the payment of a £320,000 management bonus for meeting five year targets.