2011 H1 Highlights
Despite the challenging consumer backdrop, the Group has delivered a strong result in half of 2011 with good net revenue and operating profit growth. The performance of William Hill Online continues to be excellent, led by Sportsbook; the benefit of which is further seen through cross-sell of sports-betting customers into gaming products, which also saw good growth. Retail has seen growth in transactions, amounts wagered and operating profit during the half. Group net revenue grew 7% to £567.8m and operating profit was around the top end of market expectations at £147.7m. Highlights for the 26 weeks ended 28 June 2011 include:
- Strong first half performance at the top end of expectations
- Sportsbook performance driving robust Online growth
- Doubling of in-play amounts staked
- Innovations in mobile betting deliver over 600% net revenue growth
- Slips and stakes growth in Retail OTC allied to strong gaming machine growth with gross win per machine per week now over £900 across an estate of more than 2,350 shops
- International growth progresses with impending US acquisitions and launch of regulated website in Italy
- Good cash generation reducing net debt by £39.3m since 2010 year-end
- 16% increase in dividend, ahead of underlying profit growth
Registered Office: Greenside House, 50 Station Road, Wood Green, London N22 7TP.
Registration Number 4212563 England
