26 August 2010 – interim results

Interim results from bookmaker William Hill were broadly in line with expectations but the company is cautious on the remainder of 2010 and 2011. The interim dividend was held at 2.5p. We believe that there are a number of positives to draw from the results, including the fact that operating profit from William Hill Online jumped by 43% to £44.9m. Overall we believe that this is a solid business and continue to rate the shares as a BUY.