Ladbrokes reported a 49.7% slump in pretax profits for the half year but the bookmaker said it was now "well positioned for growth".

CEO Richard Glynn said the company had delivered all of the planned online upgrades in time for the World Cup, which ensured the company "performed well, delivering a great bettering experience and a good result for the business".

The company spent £56 million last year moving from its Playtech’s IMS back office system, in a four-year deal with the gaming software provider.

In April it completed the creation of a single betting wallet, as part of its goal to have the "best in class CRM". The bookmaker also launched its mobile sportsbook last December, after partnering with the Chelsea Apps Factory.

Glynn acknowledged there was more to do and "much to play for".

But the embattled chief executive said: "We now have the products, the platforms, the people and the brand in place to deliver. Ladbrokes today is a far stronger company and well positioned for growth."

The company said thanks to the mobile and digital improvements it was now ready for the 2014-15 football season, which kicked off last weekend, and it was "on track to deliver results in line with our expectations" as long as there was "no further adverse regulation" in the second half of the year.

Ladbrokes CFO Ian Bull said finance costs were "broadly in line".