Post by BVADMIN on Jan 29, 2013 12:46:14 GMT
A jump in punters betting online helped William Hill end an "already good year" on the front foot...
Having rolled out a number of new mobile gaming and virtual sports sites and apps over the year, the UK's largest bookmaker said revenues growth online topped 20 per cent for the third consecutive year.
The growth of 27 per cent and a rise of 6 per cent from its portfolio of 2,390 UK betting shops meant
overall revenues were up by 12 per cent in 2012, helping operating profits to improve by an estimated
20 per cent to around £330m.
Weather-related horse racing fixture cancellations meant the amounts wagered in shops fell by 1 per cent
in the year but the gross win margin, which reflects the percentage of losing bets, was higher than normal at 18.2 per cent.
In the final quarter, the margin on football matches was 26.9 per cent against 24.1 per cent a year earlier.
Chief executive Ralph Topping said: "The fourth quarter delivered a strong end to an already good year in 2012.
"Performance was robust in retail and profits continued to grow strongly in online, with sporting
results going in our favour in both channels."
William Hill shares were 4 per cent higher today and have risen more than 60 per cent over the last year.
Richard Hunter, head of equities at Hargreaves Lansdown stockbrokers,
said: "The market continues to reward those companies which have embraced online business and William Hill is no exception.
"On a more cautious note, further government interference can never be discounted,
competition is intense and there is always the possibility of an unfavourable run of sporting results."
