William Hill's profits sneak up on the rails

published 24 February 2012

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.