Will Hill Shows 22 Percent Rise In Revenue For Q3

WILL HILL SHOWS 22 PERCENT RISE IN REVENUE FOR Q3

21st October, 2010 at 14:57:37
Source: http://www.azonlinecasinos.com

Ongoing positive performance from online business and machines.

William Hill Online's operating profit for the third quarter was up 80% on last year, it said in an interim statement earlier today.

Net revenue for the William Hill Group was up 22% on the third quarter in 2009, with earnings before interest, tax, depreciation and amortisation (EBITDA) up 64%.

Retail net revenue grew 16% compared to the same period last year, mainly due to the World Cup.

Following successful results for the quarter, William Hill now expects to deliver operating profit around the top of the range of analyst forecasts.

The online sportsbook saw a 287% increase in net revenue from 6m in Q3 2009 to 23m in Q3 2010, but gaming net revenues fell by 2% due to the impact on casino of the French closure.

Looking forward to next year, the Group "remains cautious in its expectations" due to the "planned VAT increase", the "challenging economic environment" and the potential impact of the public expenditure budget cuts.

Ralph Topping , CEO of William Hill, said: "The Group has performed strongly in the quarter, even taking into account the weak prior year comparatives. We have seen an ongoing positive performance from our growing Online business and from machines which, when allied to a period of very favourable sports results, have driven strong net revenue performance. Whilst a number of macro-economic factors leave us cautious in our expectations for 2011, the Group is very well placed through the final quarter of 2010".

Related News Tags:



« News index »



SPORTECH FULL YEAR 2016 RESULTS

29th March, 2017 at 15:16:22
Results fail to impress but transformational period positions company for growth, Board believes.

NEW TELEVISION ADVERT FROM ONLINE CASINO

28th March, 2017 at 19:47:54
PlayOJO.com begins major marketing push in UK.

HABANERO HAILS STRONG START TO 2017

28th March, 2017 at 11:21:29
Future looks bright, developer says.

PARIPLAY LAUNCH BLOODSHOT (Update)

27th March, 2017 at 20:04:48
Based on iconic comic book series.

ULTRAPLAY DOUBLE DEAL

27th March, 2017 at 13:46:09
With Mbitcasino and Arcanebet
Full Story: Ultraplay Double Deal »