William Hill posts underwhelming results

The bookmaker went through unfavorable horse racing and football results in December.

UK.- The leading sports betting brand William Hill reported its operating profit for the 12 months to December 31 of last year, where the company totaled £260 million, the lowest result they expected among the parameters of £260 to £280 million.

The company said that gross win margins were below expectations, and one of the reasons why they reported underwhelming results was due to unfavorable racing and football results, which are unrelated to their services. Interim chief executive at William Hill, Philip Bowcock, said: “Importantly, the improvements we saw in wagering in online and Australia in the second half have continued in recent weeks. However, all four divisions saw customer-friendly results at the back end of the year, which translated into profits being c£20m below our prior expectations.”

“With key underlying trends continuing to be positive, the recent run of sporting results have not changed our confidence in a better performance in 2017,” he added. The UK based company will report its final results on February 24.

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