Web business drives 10 per cent rise in William Hill net revenue

Shares in William Hill, the FTSE 250-listed bookmaker, lifted sharply on Friday after the company reported a 10 per cent increase in net revenue in the 52 weeks that ended December 25th.

Shares in William Hill, the FTSE 250-listed bookmaker, lifted sharply on Friday after the company reported a 10 per cent increase in net revenue in the 52 weeks that ended December 25th.

Net revenue rose to £1.3bn and was underpinned by strong growth in online net revenue.

Retail net revenue rose 4.0% over the comparative period to £825m while online net revenue jumped 24% to £398.5m.

Advertisement - Article continues below

The group's operating profit rose 18% to £326.4m and profit before tax rose 46% to £274.2m.

In addition, the company announced the £424m proposed acquisition of an outstanding 29% stake in William Hill Online and a £375m rights issue as part of financing for the proposed acquisition.

The group further reported that a £460m proposed acquisition of Sportingbet's Australian and Spanish online businesses was on track for completion on March 19th this year.

Basic earnings per share increased 62% to 26.7p in the 52 weeks ended December 25th.

Ralph Topping, Chief Executive Officer of William Hill, said: "Today marks a major milestone for William Hill as we propose taking full control of William Hill Online. This move rounds off a successful 12 months which have seen us take our first steps into the US and, through the pending Sportingbet acquisition, lay the foundations for growth in the attractive Australian market.

He added: "William Hill Online has consistently delivered strong net revenue growth since it was formed in December 2008."

Shares in William Hill were up 7.09% to 433.40p at 09:35 on Friday.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
EU Economy

Why a stronger euro is good news for investors

The fragile state of the eurozone has for a long time brought the threat of deflation. But the ECB’s latest moves have dampened those fears. John Step…
5 Jun 2020