William Hill share price: Company releases trading update

on Jan 20, 2015
Updated: Oct 21, 2019

William Hill Plc (LON:WMH) has this morning issued a trading update. Here are the highlights from the company statement:

Q4 saw falls in sports betting net revenue in Retail over-the-counter (OTC) and Online Sportsbook. Gross win margins were softer due to unfavourable football and horse racing results, particularly relative to a strong margin in Q4 2013. Amounts wagered were down 1% in OTC (up 1% after adjusting for the exceptional portfolio of shops closed during H2) and up 16% in Sportsbook, with in-play wagering up 27% and pre-match up 8%. Mobile continues to perform strongly and was more than 50% of Sportsbook amounts wagered during the quarter. Gaming continued to deliver growth, benefiting from strong mobile gaming revenues in Online, increasing by 86% and representing 38% of gaming revenues, and from the performance of the Eclipse machines in the Retail estate. The Eclipse cabinets are now available in 70% of the Group’s shops and we are on track to complete the roll-out to the remainder of the estate in Q2 2015. Gross win per machine per week was up from £920 in 2013 to £974.

On a full-year basis, Group net revenue increased 8%. Within this, Retail was slightly ahead, Online increased 18%, William Hill Australia was up 41% (11% on a pro forma local currency basis), William Hill US increased 30% and Telephone was down 28%. Group operating profit1 is expected to be around £371m. Full-year pre-exceptional defined amortisation is now expected to be c£9m.

The Group expects its pre-exceptional effective tax rate for 2014 to be 20% and for 2015 to remain at 19%.
As of 07:33 GMT, Tuesday, 20 January, William Hill plc share price is 376.60p.

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