Betters’ gains are William Hill’s losses as results hit

A string of wins for Chelsea weighed on William Hill's profits. Picture: Darren Walsh/Chelsea FC via Getty Images
A string of wins for Chelsea weighed on William Hill's profits. Picture: Darren Walsh/Chelsea FC via Getty Images
Share this article
0
Have your say

Bookmaker William Hill’s full-year operating profit has come in at the bottom end of guidance, weighed down by “unfavourable” football and racing results.

The figure to 27 December came in at £260m, compared with guidance of £260m-£280m last November as English premiership leaders Chelsea racked up 12 of their 13 wins in a row.

READ MORE: William Hill flags profits at top end of target range

However, interim chief executive Philip Bowcock said the firm, which has 314 branches in Scotland, is optimistic about a better performance next year, with underlying trends positive.

Nicholas Hyett, analyst at Hargreaves Lansdown, said a run of negative sporting results was “forgivable”, but performance in the online division is only getting better “at a snail’s pace”.

“With the distracting merger talks of last year now behind it, the group seems to be knuckling down to the job of sorting out the core business. Hopefully, the renewed focus and improving trends will start to deliver some results.”

Click here to ‘Like’ The Scotsman Business on Facebook