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Better bet: Hills delivers on results
Bookmaker William Hill was yesterday praised for delivering “excellent results” despite a challenging economic backdrop and a run of success for punters betting on football.
In a trading update, the group posted 6 per cent growth in revenues for 2011 and said operating profits were likely to be broadly flat at about £274 million, even though the previous year benefited from the football World Cup.
The final quarter saw 11 per cent growth in over-the-counter bets, although this was offset by weaker margins after a good November for football punters placing small stake, high return multiple bets.
Chief executive Ralph Topping described the performance as “very positive”, adding there were good opportunities beyond the firm’s traditional roots as more governments open up to regulated gambling.
Numis analyst Ivor Jones said: “These are excellent results given the strength of the comparable period, increased VAT and pressure on the consumer.”
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Thursday 24 May 2012
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