27 October 2011 – Q3 interim management statement
An Interim Management Statement for the 13 weeks ended 27 September 2011 has been released. Group net revenue was up 2% in Q3 and 5% in the year to date. Retail net revenue fell by 3% and was unchanged in the year to date. Of most interest, online net revenue grew by 28% and was 25% up in the year to date. This is solid performance in a competitive market and in our view underlines the strength of the William Hill brand. Although group operating profit was 22% lower in the period and 3% lower in the year to date, we believe the shares are GOOD VALUE.