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UK Power Leisure Plans Expansion Despite Dip in Results

"Pre-tax profits at the company behind Paddy Power bookmakers fell to £5.5 million (US$7.9 million) , from £6.67 million (US$9.5 million) - after the costs of launching the UK online operation were included.

"But turnover increased by 27% to £280.8 million (US$402 million) , from £221 million (US$316 million), with online betting surging by 410% to £21.2 million (US$30.4 million) - despite the impact of foot-and-mouth on the horseracing calendar.

"The company has 126 licensed betting offices, mainly in Ireland, but said it now planned to add to its two shops in the UK.

"It added: `Our two UK shops, both in London, have continued to trade above expectations and we will continue to explore the UK market through further openings of a small number of additional offices.'…"

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