William Hill: firm was hit by unfavourable results in December
PICTURE: David Dew
By Tony McFadden 7:08AM 9 JAN 2017
WILLIAM HILL on Monday announced a full-year operating profit of around £260 million for 2016.
The firm had been expected to report profit between £260 million to £280 million but unfavourable football and horseracing results in December meant that the figure was at the bottom end of the scale.
Philip Bowcock, Interim CEO, said: “Importantly, the improvements we saw in wagering in online and Australia in the second half have continued in recent weeks.
“However, all four divisions saw customer-friendly results at the back end of the year, which translated into profits being c£20m below our prior expectations.
“With key underlying trends continuing to be positive, the recent run of sporting results have not changed our confidence in a better performance in 2017.”
The 2016 final results will be announced on Friday, 24 February 2017.
At 7.20am William Hill’s share price was 297.70p.