Bookmaker William Hill has announced a successful first half to 2012 during which they enjoyed double-digit revenue and profit growth. The interim results show an 11 per cent rise in net revenue, year on year, for the period up to 26 June. Operating profits also rose by 14 per cent over the same 26 weeks.
The figures reflect a strong performance across the groups’ multi-channel betting operation with William Hill Online performing particularly well. Net revenue from the online business was 30 per cent up on the same period in 2011 and operating profits rose by 23 per cent.
William Hill has also benefited from its international expansion, which has seen the company granted a Nevada licence, and the launch of both Spanish and Italian online ventures.
In addition to this William Hill remains the UK’s leading high street bookmaker. The company’s 2,370 commercial property betting shops process over a million betting slips a day which amounts to 25 per cent of the high street market.
Most of these shops are open for over 12 hours a day and have also shown strong growth. The commercial property outlets saw a 5 per cent rise in net revenue, as a result of both over-the-counter betting and gaming machines, and a 6 per cent increase in operating profits.
Ralph Topping, the chief executive of William Hill, praised the performance of the retail and online businesses and said that mobile remains a top priority. Since its launch in the Apple-App Store in February, the Spotsbook app has contributed greatly to online turnover and delivered 40,000 new customers.
Mr Topping also expressed optimism for the remainder of 2012, saying; “With further innovation to come, the group is in good shape and the board remains confident of its expectations for the full year.”
Even when people have no money, they will still use what little they have to gain more. It is quite sad really!
It seems to be the case Bob and Stephen. Bookmakers are one of the only markets to benefit from the recession.
It appears that bookmakers are one of the few high street success stories at the present time.