William Hill reports rise in revenue, operating profit
Bookmaker William Hill has cited the ongoing success of its online operations and Australian business as two of the main reasons behind a year-on-year jump in revenue and operating profit in 2014.
In a trading statement, the company said that net revenue increased by 8% in 2014 while group operating profit is expected to jump by 11% to approximately £371 million (€487.4 million/$564.7 million).
Overall group results were boosted by impressive performances by the bookmaker’s online and Australian businesses, with the divisions’ respective revenues increasing by 18% and 41%.
William Hill also noted that its expanding US business also registered a 30% leap in revenue in 2014, although sales at its group telephone operation fell by 28%.
The expected full-year growth comes despite a disappointing performance during the fourth quarter, during which William Hill saw its retail operation suffer in terms of both revenue and operating profit.
William Hill also used the trading update to announce plans to rebrand its Australian trading operations under the William hill brand. Due to be completed next month, the bookmaker’s SportingBet, Centrebet and Tomwaterhouse.com brands will all be rebranded under the William Hill name.
James Henderson, chief executive officer of William Hill, said: “William Hill Australia's potential has been significantly improved as a result of our management changes, the restructuring of our operations, increased marketing effectiveness, enhanced user experience and the ongoing expansion of the product range.
“Using the William Hill brand in Italy, Spain and the US, alongside the UK, has already proved highly successful.
“I believe now is the right time to adopt the William Hill brand in Australia.
“The previous introduction of the 'powered by William Hill' branding in that market has seen awareness build and the complete change will further improve our competitiveness, bring greater focus to our marketing and IT investment and gives us a strong global brand to compete at the highest level in this attractive market.”
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