More punters tried to score a win on the World Cup

Operating profits rose to �151.3m ($286m) in the six months to 30 June, from �134.7m a year earlier.

The group added overall winnings had risen 12% to �523.1m, driven by the football World Cup and online gaming.

It also unveiled plans to invest �68m in new betting shops, and online and phone operations in Italy. However, it delayed plans to enter the US market.

Ladbrokes said the early departure of several favourites from the World Cup had led to the football tournament becoming the biggest betting event so far in the company's history.

'Record earnings'

The event led to a gross win of �17.5m across the firm's operations.

The decision on whether to take business from US customers on our gaming sites remains under review Ladbrokes Check Ladbrokes' shares

Meanwhile, good results from several key horse racing meetings, including Aintree and Ascot, also helped boost Ladbrokes' performance.

"The first half of 2006, our first reporting period as a stand-alone entity, has seen record earnings for Ladbrokes, increasing 12.3% on last year," chief executive Christopher Bell said.

The group's online gaming business also fared well during the first half, with gross win surging 25% to �76.2m, while the number of active unique players rose 37% to 420,000.

Despite the firm signing up more sports betting on its website, it added that rising competition in the online poker market had had an effect.

US concerns

Recent events in the US have curtailed Ladbroke's plans to expand across the Atlantic.

"In view of ongoing uncertainties within the US legislative environment, the decision on whether to take business from US customers on our gaming sites remains under review and we will update the market in due course," Ladbrokes said.

The news follows the recent arrest of former Betonsports chief David Carruthers in the US on charges of racketeering and fraud.

Betonsports and executives from other gaming firms are facing a 22-count indictment as US authorities attempt to crack down on internet gambling. The case led to Betonsports closing down its US operations.

Overseas moves

Developments in America have not dampened Ladbroke's appetite for expansion overseas, though.

As well as announcing its expansion into Italy through a joint venture with Pianeta Scommesse, the group has made good progress in Russia.

During the first six months of the year it, signed a joint venture with Cyberview to provide standalone sports betting facilities to casinos in Russia.

Ladbrokes is also one of three companies shortlisted to run the sports lottery in Vietnam and has formed a consortium with gaming systems provider Intralot to bid for the Turkish National Lottery.