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William Hill Continues to Increase Online Market Share

William Hill Continues to Increase Online Market Share

The UK’s largest bookmaker, William Hill, has released a trading update which shows that it has continued to grow in the online market.

William Hill Continues to Increase Online Market Share

William Hill is expecting to report full-year operating profits of £330 million for last year.

In the update William Hill said that it is expecting to report full-year operating profits of £330 million, a rise of £24 million from the previous year.

Furthermore, profits from William Hill’s online operations have grown 36% compared with 2011.

The final figures will be published on March 1st.

As a result investors are now feeling confident about taking a gamble on some William Hill shares and the companies shares rose 4% after the release of the trading update.

Ralph Topping, Chief Executive, said that “Performance was robust in retail and profits continues to grow strongly in online, with sporting results going in our favour in both channels.”

The company also said that a 12% rise in revenue was helped by a rise of 7% in the average amount bet by its customers.

William Hill is planning on expanding in the near future, it is hoping to boost its online operation by purchasing the Australian branch of Sportingbet as well as a portion of Sportingbet’s Spanish operation £454m.

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Raised close to London’s financial district, Ben has always found the world of business and money fascinating. While completing a degree in business studies Ben started writing for his university newspaper and hasn’t stopped since. Over the last decade Ben has gathered a wealth of experience writing about business and the financial markets and he is pleased to be able to share it with you here.

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