Tiger Woods and John Terry help Paddy Power put a tough year in perspective

By Alistair Osborne, Business Editor (Leisure) Published: 7:32PM GMT 02 March 2010

"YE Yang, ranked 102 in the world, came charging at Tiger similar to Elin with a 9 iron and claimed a shock victory," pronounced Paddy Power Photo: GETTY IMAGES

Bemoaning a run of punter-friendly results, the gambling operator complained that sporting "upsets" last year were "as singular as team-mates mouth-watering John Terry around to cooking with the missus".

Neither was it the company"s wisest move to compensate out on Woods after the American golfer took a 4 shot lead at the USPGA with only dual rounds remaining. "We competence have reconsidered if we"d well known only how burdensome Tiger"s standard week on debate was at that point," pronounced the bookie, observant how "YE Yang, ranked 102 in the world, came charging at Tiger similar to Elin with a 9 iron and claimed a shock victory".

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Patrick Kennedy, the company"s arch executive, pronounced he had approaching a formidable 2009, interjection to the downturn and formidable comparatives after 2008"s bookie-friendly results.

Having approaching a normal run of formula to hit sum win by €11m (�10m), the out-turn was far worse at €29m. At Cheltenham alone, where the legal holiday saw 9 Irish winners, Paddy was €6m down on the prior year.

"Some of this was self-inflicted, such as profitable out on Ireland to validate for the World Cup when Thierry Henry rubbed the ball," he said. "That cost us around €100,000. We call those "justice payouts"."

Despite the unlucky results, Mr Kennedy pronounced 2009 was a "good year for us". Paddy stretched the marketplace share in both the UK and Ireland, acquired dual Australian companies to turn the country"s heading online gambling operator and concluded a revenue-sharing understanding with France"s PMU betting giant.

Amounts staked rose 31pc to €2.75bn but reduce betting margins pushed pre-tax increase down 15pc to €67.2m still 5pc forward of estimates. A 38.9 cent last dividend, up 10pc, pushes the full-year division up 8pc to 58.4 cents.

Paddy pronounced stream trade was "satisfactory". Ian Rennardson, an researcher at Merrill Lynch, remarkable how the association had formerly "provided some-more colour on the opinion so the miss of item might come as a slight disappointment". Paddy Power shares rose 55 cents to €23.70.