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William Hill results come in at the top end of market expectations

UK bookmaker, William Hill PLC announced its final full year results for the period ending 28 December 2010 this week, noting that the results were at the top end of market expectations. Its key financial indicators included:

  • Net revenue of £1071.8 million (2009: £997.9 million) and increase of 7%.
  • Retail net revenue comprises £783.1 million (2009: £757.7 million), up 3%.
  • Online net revenue shows a 24% increase and amounts to £251.5 million (2009: 203.5 million).
  • Operating profit of £276.8 million (2009: £258.5 million), a 7% increase.
  • Profit before tax increases by 60% to £193.3 million (2009: £120.9 million)
  • Profit after tax indicates a 92% increase to £156 million (2009: £81.2 million)

It also highlighted the following key points:

  • Strong William Hill Online results underpinned by outstanding Sportsbook growth
  • In-play amounts wagered more than doubled with expansion of offering
  • Improvements in trading approach deliver growth in Sportsbook and in-play gross win margin
  • Successful roll-out of new 'Storm' gaming machines drives Retail net revenue growth
  • Further balance sheet strengthening with debt reduction and extension of debt maturities

Source: InfoPowa News

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