The online betting business of bookmaker William Hill has shown an impressive turn of foot for the second year in succession, compensating for lacklustre top-line growth in the bookie's High Street estate.
The firm's net revenue rose 6% to £1,136.7m from £1,071.8m the year before, with the retail estate seeing its net revenue edging up just 1% to £789.7m from £783.1m the year before. Online net revenue, meanwhile, surged 28% to £321.3m from £251.5m the year before, its second successive year of growth in excess of 20%.
Stripping out exceptional charges, pre-tax profits came in ahead of expectations at £239.4m, up 9% on 2010's £219.3m. The market had pencilled in a figure of £232.8m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
More to follow ...
jh
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
