William Hill report revenue rise

Operators William Hill have announced increases in net revenue and profit after tax for the first half of 2013.

Net revenue for the 26 weeks ended 2 July was £751.6m, a rise of 20% on the same period the previous year.

Online net revenue increased 18% to £233.9m, with retail revenue improving 11% to £463.6m.

Operating profit was up 8% to £181.4m, with pre-exceptional profit before tax increasing 4% to £156.2m.

Profit before tax was flat at £143.6m - compared to £143.3m for H1 2012 – while profit after tax was £133.7m, a rise of 13%.

William Hill CEO Ralph Topping said: “We have continued the momentum in online, particularly in mobile sportsbook.

“The shift to mobile gaming is an important development and we have invested significant resources in getting the business fully prepared to accelerate this important opportunity.

“With almost 200% growth in mobile gaming net revenue in the first half, this decision is clearly justified.

“While online and mobile gambling have grown substantially, retail has continued to prove resilient, with net revenue growing, driven by both betting and gaming.

“Profits have held up well even without a major football tournament and with the business being hit by additional tax.

“As the UK economy improves and consumers generally feel more confident, we remain confident retail will continue to prosper.”

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