5 August 2011 – interim results

The bookmaking group William Hill has announced interim results for the 26 weeks to 29 June revealing a 7% increase in revenue to £568m, with pre-tax profits jumping 23% to £127m.  It was pleasing to see that online revenues rose sharply, being 23% higher at £153m as the group’s move to attract more online business pays off.  Adjusted earnings per share rose by 31% to 12.8p and the interim dividend was increased by 16% to 2.9p.  These are excellent results, being better than expectations and, although trading conditions are not easy, the group is well positioned for further growth. BUY.