27 July 2012 – interim results

Bookmaker William Hill has announced excellent interim results for the six month period to 26 June with revenues up 11% to £627.8m and adjusted pre-tax pre-tax profits up by 16% to £150.3m.  Earnings per share on the same basis were 17% higher at 15.0p.  The interim dividend was raised the same amount to 3.4p.  There was an excellent performance from the on-line business although even the core retail business also did well.  Mobile trading now accounts for  22% of the on-line business and 11% of gaming net revenue in the first half.  With further progress likely the shares are still attractive despite the strong run in the share price.  BUY.