William Hill Struggles in Third Quarter

Internet betting group William Hill plc has announced that they had a less than stellar third quarter, noting financial results for the group were down sharply.

Key financial indicators for the third quarter 2015 were:

  • Profits down 39% with profits at the low end of forecasts for the end of the year.

  • The UK point of consumption tax cost the company £23 million

  • Net Revenue was down 9%

  • Retail profits were down 31%

  • Online profits were down 37%

Commenting on his company's performance William Hill CEO James Henderson said, "Whilst good operating cost discipline has partially offset the weaker than expected results and non-core market impacts, the board now expects full-year operating profit to be around the bottom of the analyst consensus range."

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