William Hill boosted by World Cup
BOOKMAKER William Hill said first half earnings would be fractionally higher on the year before with the football World Cup offsetting the company’s worst ever results from horseracing at Royal Ascot.
William Hill, which has around 2,300 betting shops in Britain and Ireland, said it expected earnings before interest, tax and amortisation to be around £135m in the first half, compared with £134.6m the year before.
The company said its over-the-counter retail business had seen a very strong World Cup performance in June but also saw poor horseracing results in the second quarter as a whole, with a relatively weak Grand National in April followed by a loss-making Royal Ascot festival.
“Whilst it was our worst ever Royal Ascot, with a loss on the meeting, the World Cup proved to be one of the best for bookmakers in 40 years,” chief executive Ralph Topping said.
The company added that William Hill Online had a strong performance in the half year with total online net revenue growth of about 24 per cent and operating profit about 43 per cent higher than in the prior year.