William Hill enjoy strong first quarter

iam Hill have reported an encouraging first quarter of 2011 as the bookmaking giants saw operating profit rise by 21% compared with the same period last year.

Net revenues also increased by 11% from the Q1 2010 figure, with net revenues in the firm’s retail division up 8%. Online revenue was up 26%, while operating profit increased 28% on the first three months of last year. The company’s net debt was revealed as £458m, down from £499m at the end of Q4 2010. William Hill shares rose 9% upon the release of the latest figures.

Hills chief executive Ralph Topping said of the results: “We have seen excellent growth across our business in the first quarter, enabling us to remain confident in our expectations for the full year.

“It is particularly pleasing that, alongside a continuing strong performance from William Hill Online, we have seen growth in both net revenue and operating profit in retail.”