William Hill report revenue rise

iam Hill have recorded a 16% increase in full-year group net revenue for 2013.

A trading statement from the operators also revealed that online net revenue was up 10% year-on-year, with retail net revenue rising 8%.

Group operating profit is expected to be around £334m, with the company set to announce their final results for the year on 28 February.

The firm’s Q4 figures were reported as a quarterly comparison, which compared 13 weeks of 2013 with 14 weeks of 2012, as well as a comparison of the equivalent 13-week period of both years.

Online net revenue for Q4 2013 was up 6%, or 14% on a 13-week basis.

Online sportsbook net revenue increased 24% (30% on a 13-week basis) while sportsbook amounts wagered rose 26% (38%).

Gaming net revenue was down 7%, although actually increased 2% when compared to the shorter period.

Retail net revenue for the quarter was up 6% (13%), with underlying total net revenue decreasing 2%, although this actually equated to a 4% increase compared to the reduced period.

Machines net revenue increased 16% (24%), with underlying machines net revenue dropping 4%, which was actually a 3% improvement on the equivalent 13-week period.

CEO Ralph Topping said: “Q4 proved a strong end to the year as we enjoyed continued momentum in sportsbook with 38% more wagered in Q4 on a 13-week basis than last year.

“This demonstrates our competitive strength in online ahead of the expected introduction of the point-of-consumption tax in December 2014.”