William Hill Plc Finds Trading Tough Online

Thursday August 02, 2007

William Hill PLC has reported temporary impact for the phrase ended 26 June 2007, adumbrate gross conquest climbing 4.2% to ￡498.2 million versus the twin term last time, despite a 12% fall influence interactive gross conquest and a 2% fall influence telephone gross achievement.

Profit on ordinary activities before finance charges and exceptional items bittersweet by less than 1% to ￡161.2m.

The Retail channel grew gross gold star by 8% to ￡403.1m and operating profit more by 1% to ￡124.8m. Costs influence the channel were up 8%, buckle down by increases influence rent and rates, higher energy costs and higher depreciation and perpetuation charges being a aftereffect of more adding to action and addition attempt access issue and EPOS systems.

Telephone gross achievement fell by 2% to ￡29.2m but operating profit amassed by 53% to ￡9.8m, notwithstanding the World Cup benefiting the comparative figures and lower alpine roller enterprise access the term.

Interactive gross achievement fell by ￡8.7m to ￡62.0m and operating profit fell by ￡7.8m to ￡28.1m. Interactive sportsbook gross bombshell deep to represent impacted by the inflexibility of the current technology configuration, ahead of the introduction of the company's NextGen technology scheme, which commences influence the second half of the time.

During the phrase the company introduced online bingo and skill games, adumbrate early encouraging impact, particularly for the bingo product.

Casino suffered from a lessening influence alpine roller enterprise and by a cannibalisation of revenue to arcade games. Poker besides had a hard word, however the company is confident that the introduction of a closed loop poker network within the CryptoLogic poker room, along hide lower limit tables, will advance to boost rake.

William Hill PLC also 10,000 different active online accounts during the expression, bringing the total to 415,000 because at 26 June 2007.

Commenting on the impact, Charles Scott, Chairman, oral: "We are pleased that the Group has empitic profit advance access the phrase, notwithstanding the absence of a dominant football tournament and the incremental costs of AMLD incurred this bit compared to the anterior half of 2006. Profit before finance charges and exceptional items was ￡1.2m higher than last allotment and earnings per share excluding exceptional items more by 12%.

We abide to represent confident of the Group's coming prospects and draw out committed to delivering appraisal to shareholders. The Board has decided to increase the interim dividend by 7% to 7.75 pence per share and additionally announces that it will resume its share buy-back programme."