William Hill in World Cup boost after poor Ascot
BOOKMAKER William Hill said first half earnings would be fractionally higher than the year before with the football World Cup offsetting the company’s worst ever results from horseracing at Royal Ascot.
The company said it expected earnings before interest, tax and amortisation to be around £135m in the first half, up from £134.6m the year before. The company, which has around 2,300 betting shops in Britain and Ireland, said its over-the-counter retail business had seen a very strong World Cup performance in June
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.
Shares closed yesterday at 178.9p, valuing the business at £1.27bn.