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William Hill revenue boosted by online betting | William Hill revenue boosted by online betting |
(about 2 hours later) | |
Bookmaker William Hill has said its annual operating profits are set to be at the top end of forecasts. | Bookmaker William Hill has said its annual operating profits are set to be at the top end of forecasts. |
Its comments came as it reported strong revenue growth in the final three months of 2010, in part thanks to a big jump in online business. | Its comments came as it reported strong revenue growth in the final three months of 2010, in part thanks to a big jump in online business. |
Online revenue grew by a quarter compared with a year earlier, while retail revenue rose by 8% despite the bad weather over the Christmas period. | Online revenue grew by a quarter compared with a year earlier, while retail revenue rose by 8% despite the bad weather over the Christmas period. |
William Hill shares were among the stock market's best performers, up 7%. | |
The bookmaker said full-year operating profits would be about £275m, up from £258.6m in 2009. | The bookmaker said full-year operating profits would be about £275m, up from £258.6m in 2009. |
"This is strong performance and I am delighted that, in particular, our online business and the gaming machines in our shops continue to see encouraging revenue growth during [the period]," said the group's chief executive Ralph Topping. | "This is strong performance and I am delighted that, in particular, our online business and the gaming machines in our shops continue to see encouraging revenue growth during [the period]," said the group's chief executive Ralph Topping. |
"Our continual technological developments in what is a fast-changing industry have underpinned growth." | "Our continual technological developments in what is a fast-changing industry have underpinned growth." |
The group also said it would now be closing its telephone business in the UK in February, having previously said it would do so in the fourth quarter of 2010. | The group also said it would now be closing its telephone business in the UK in February, having previously said it would do so in the fourth quarter of 2010. |
In June last year, William Hill announced it would be establishing a new telephone betting operation offshore in Gibraltar. | In June last year, William Hill announced it would be establishing a new telephone betting operation offshore in Gibraltar. |
Firms based offshore do not have to pay the Horseracing Betting Levy, which UK-based bookies have to pay in order to take bets on British races. | Firms based offshore do not have to pay the Horseracing Betting Levy, which UK-based bookies have to pay in order to take bets on British races. |
William Hill has more than 2,300 licensed betting offices in the UK and Irish Republic. | William Hill has more than 2,300 licensed betting offices in the UK and Irish Republic. |