Corporate By William Hill PLC

William Hill PLC - Interim Results

Strong William Hill Online growth and excellent machines performance deliver operating profit increase

William Hill PLC (LSE: WMH) (William Hill or the Group) announces its interim results for the 26 weeks ended 29 June 2010 (the period). The comparator period is the 26 weeks to 30 June 2009.


26 weeks ended
29 Jun 2010 (£m)

26 weeks ended
30 Jun 2009 (£m)

Change vs
2009 (%)





Net revenue




- Retail net revenue




- Online net revenue








Profit before tax (pre-exceptionals)




Profit before tax (post exceptionals)




Earnings per share – basic, adjusted(2)




Earnings per share – basic(2)




Dividend per share




(1) Pre-exceptional earnings including associates and excluding interest, tax and £1.8m (2009: £2.8m) of amortisation relating to trade names, affiliate relationships and non competition agreements as described in note 12 to the 2009 Group Financial Statements
(2) EPS is based on 697.8 million shares for 2010 and 586.6 million shares for 2009

Key points:

  • Growth in net revenue and EBITA driven by machines and William Hill Online
  • Strong revenue and profit growth from William Hill Online
  • Highly competitive offering delivers double-digit machine net revenue growth
  • Outstanding football World Cup offset by poor horseracing results
  • Telephone business being restructured to improve contribution
  • Financially well-placed following completion of balance sheet restructuring
  • Board evolution continues with appointments of new Chairman and Group Finance Director

Ralph Topping, Chief Executive of William Hill, commented:

"This is a positive first half performance, driven by William Hill Online and, in particular, a very strong Sportsbook. We had our best ever World Cup, far exceeding expectations. Despite turnover decline in OTC, overall Retail turnover and gross win were up, driven by an exceptionally good performance from machines. We have also completed the restructuring of the balance sheet, continued to invest to great effect in our people and have increased our focus on marketing and advertising.

“Looking ahead, we are on track to deliver against the Board's expectations for the full year but we remain cautious moving into 2011 given the ongoing consumer uncertainty particularly affecting Retail OTC. We are confident that our strategy of expanding William Hill Online both in the UK and internationally whilst continuing to manage Retail tightly will strengthen our competitive position as the economic backdrop improves."

Analyst and investor presentation
9.00 a.m. BST
The Lincoln Centre
18 Lincoln's Inn Fields
London WC2A 3ED
Live conference call:
Tel: 0800 634 5205
Int'l: +44 (0) 20 8817 9301
Passcode: 3363097
Archive conference call
(until 2 Sept 2010)
Tel: +44 (0) 20 7769 6425
Passcode: 3363097#
Video webcast:
Available live and, until
25 August 2011, as an

A separate conference call will be held at 11.00 a.m. BST for debt analysts and investors. Dial-in details are:

UK telephone: 020 8817 9301
International: +44 (0)20 8817 9301
Passcode: 3363100

William Hill PLC Ralph Topping, Chief Executive
Neil Cooper, Group Finance Director
Lyndsay Wright, Director of IR
On 26 August: +44 (0) 20 7404 5959
Thereafter: +44 (0) 20 8918 3614
Brunswick Simon Sporborg
Justine McIlroy
Tel: +44 (0) 20 7404 5959

Notes to editors

William Hill is one of the UK's leading betting and gaming companies and employs more than 16,000 people. It is the UK's largest bookmaker by number of licensed betting offices (LBOs) and also operates in Ireland. The Group has over 2,300 LBOs that provide betting opportunities on a wide range of sporting and non-sporting events and, in the UK, offer gaming machines. The Group's online business, William Hill Online, is one of the leading European online betting and gaming businesses by profitability, providing sports betting, casino games, poker, bingo, numbers betting and skill games.

Cautionary note regarding forward-looking statements

These results include statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "expects", "intends", "plans", "goal", "target", "aim", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout these results and the information incorporated by reference into these results and include statements regarding the intentions, beliefs or current expectations of the directors, William Hill or the Group concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth, strategies and dividend policy of William Hill and the industry in which it operates.

By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond William Hill's ability to control or predict. Forward-looking statements are not guarantees of future performance. The Group's actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which it operates may differ materially from the impression created by the forward-looking statements contained in these results and/or the information incorporated by reference into these results. In addition, even if the results of operations, financial condition, liquidity and dividend policy of the Group and the development of the industry in which it operates, are consistent with the forward-looking statements contained in these results and/or the information incorporated by reference into these results, those results or developments may not be indicative of results or developments in subsequent periods.

Other than in accordance with its legal or regulatory obligations (including under the Listing Rules, the Disclosure and Transparency Rules and the Prospectus Rules), William Hill does not undertake any obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

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