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Annual Results

William Hill's FY pretax profit broadly steady

24 February 2017 07:32

William Hill has turned in a broadly steady FY pretax profit and dividend amid what it penned as a challenging year, particularly in H1.

Pretax profit was £181.3m, from £184.7m. Revenue was £1.60bn, from £1.59bn. Dividend was steady at 12.5p a share.

The company said its performance was below directors' expectations at the start of the year.

"However, we made a number of strategic and leadership changes to address this and ultimately delivered a full-year profit within the range of our revised expectations," it said.

"These changes continue to bear fruit, with strong indications that Online is returning to sustained growth."

Interim CEO Philip Bowcock said 2016 was a challenging year for William Hill, but one in which the company made considerable operational progress, leaving it well-placed to drive the business forward in 2017.

"We have delivered extensive product, user experience and marketing improvements in Online, modernised our Retail management structure to focus more on the customer and continued to grow in our key international markets," he said in a statement.

There were now encouraging signs in all of William Hill's divisions, in particular Online's UK business, which was now delivering sustained growth.

LOOKING FORWARD

Bowcock said William Hill wanted to keep improving the customer experience by expanding its product range, increasing marketing investment and deploying technology assets and expertise in key areas.

"At the same time, we expect our transformation programme to continue delivering important efficiency savings that we can reinvest to deliver an even better customer experience and faster growth," he said.

Story provided by StockMarketWire.com

Related Company: WMH

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