William Hill H1 revenue drops 32% year-on-year
William Hill revenue fell 32% year-on-year for the first half of 2020, to £554.4m ($726.2m).
The sports betting operator attributed the drop to the temporary closure of retail activities and disruption to sporting events as a result of the COVID-19 pandemic.
Adjusted operating profit was £11.8m, a drop of 85% in comparison with 2019.
Despite this, the operator saw online growth. Online net revenue increased by 1% while international online revenue grew by 17%.
William Hill attributed its online growth to successful product launches and the progressive resumption of sports post-lockdown.
The operator’s UK-based retail operations have now mostly reopened after 13 weeks of lockdown. For the last two weeks of June, William Hill saw flat like-for-like net revenue as a result of strong gross win margins and the “unseasonal” contribution from football.
William Hill CEO Ulrik Bengtsson said that he was “delighted” with the performance of the company during these “extraordinary times.”
He commented: “Our team has been remarkable, supporting each other and our customers throughout the pandemic, and I would like to thank them for their continuing efforts.
“Our trading was strong before COVID-19, we controlled costs effectively during lockdown and we have recovered well post-lockdown with good performances in our online businesses throughout the first half.”
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