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Interim Results

William Hill reports strong UK online and retail growth

02 August 2017 07:30

William Hill said its online and retail divisions in the UK were growing at or above market growth rates in the 26 weeks ended 27 June 2017.

HIGHLIGHTS:

- Online: UK Sportsbook amounts wagered +13% and UK gaming net revenue +9%

- Retail: amounts wagered +2% and gaming net revenue +3%

- International revenue growth: continued net revenue growth in Australia and US

- Transformation and technology: on track to deliver £40m of annualised efficiency savings by year-end and, over the long term, improved revenues, greater cost efficiency and better organisational effectiveness

FINANCIAL RESULTS:

- Group net revenue up 3% to £837m

- Adjusted operating profit of £129.5m, down 1%

- Adjusted EPS2 of 11.2p, up 7%

- Strong cash generation with operating cash flow of £115.3m

- Balance sheet remains healthy with net debt for covenant purposes of £604.6m, 1.7x EBITDA

- Interim dividend increased 4% to 4.26p per share, reflecting the group's continued strong cash flow and the Board's confidence in delivery of strategic priorities

Story provided by StockMarketWire.com

Related Company: WMH

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