Bookmaking and gambling giant Paddy Power has just published a trading statement ahead of its AGM in Dublin this morning where outgoing Smurfit Kappa Chief Executive, Gary McGann will be confirmed as the company’s new chairman.

Group revenues have grown by 35 percent in the first four months of the year, boosted by a continued strong performance in Australia and the impact of favourable Australian dollar and sterling currency conversion.

Overall stakes on sports betting rose by 21 percent though the group points out that sports results have been unfavourable across the sector.

Including the proposed final dividend of just over €1 per share, Paddy Power plans to distribute up to €440m to shareholders by early June, principally through a new B share issue.

This statement continues on from the company's strong performance in 2014, when it returned a record pre-tax profit of €167m in 2014 - that was a 21 percent increase on the previous year.

Paddy Power grabbed headlines late in April with an advertisement for betting on Ireland's marriage referendum which appeared to be inspired by dissident republicanism.