William Hill experiences mixed fortunes

Bookmaker William Hill today said unfavourable horseracing results and the cancellation of fixtures had contributed to a mixed start to 2006.

The group, which is neck-and-neck with Ladbrokes as the UK’s biggest bookie, said setbacks in horseracing contrasted with better football results which included the recent 3-0 drubbing of Chelsea by Middlesbrough.

The snapshot of trading in the first eight weeks of 2006 comes after a disappointing run of sports results last year restrained the growth in profits at William Hill to 5%.

The annual surplus of £246m (€361m) was achieved before the firm accounted for its £504m (€739.7m) acquisition of the 624 betting shops of Stanley Leisure in May and the cost of upgrading and rebranding this estate.

William Hill said: “Trading in the first eight weeks of 2006 has been mixed, with some strong weeks, aided by more favourable football results and some poor weeks, particularly for horseracing which has been impacted by both unfavourable results and fixture cancellations.”

But the growth in online gaming and tight cost control combined with the excitement about this summer’s football World Cup led William Hill to stress its confidence in its prospects.