The bookmaker says pre-tax profit fell to £191.3m in 2009 from £265.6m a year earlier.
Net revenue fell to £963.7m from £1.05bn in 2008.
The company says it will concentrate on strengths including its brand and “bookmaking expertise” to counter rising unemployment and “more general consumer spending headwinds” in 2010.
It adds its focus on CRM and targeted marketing will provide a “competitive edge” for its UK retail division.
The bookmaker says its UK online betting and gaming service provides growth opportunities, adding it will look to grow player numbers through “cost effective” advertising and promotion while increasing player yield though “enhanced” CRM.
Ladbrokes said last year that it has changed the focus of its eGaming marketing from recruiting players via through-the-line campaigns to maximising spend per player though CRM.