William Hill’s revenue up 3%

BRITISH bookies chain William Hill is confident of meeting its full-year profit targets after seeing growth in its retail division during the third quarter – although no real contribution was evident from its Irish operations.

In a trading update for the three months to the end of September, William Hill said yesterday that group net revenue was up 3% on a year-on-year basis and unfavourable/punter-friendly results had been offset by good cost control measures.

“Business volumes – both in our shops and online – since the beginning of the football season in mid-August have been good. In what has, to date, been an extraordinary year for sporting results, football and horseracing affected us again in August and into September, but margins have returned to more normal historic levels since then,” said chief executive Ralph Topping.

However, the long-term future for William Hill in Ireland remains uncertain.

While there is a possibility of more shop closures in its Irish division – the company closed 14 of its underperforming branches here earlier this year, reducing its Irish retail portfolio to 35 shops – a spokesperson said yesterday there is currently no plan to close more shops. However, the company will continue to review its Irish retail performance on a shop-by-shop basis.