William Hill hails 'positive' year

Bookmaker William Hill said it was in good shape today despite challenging conditions and a run of success for punters betting on football.

It reported 6% growth in revenues for 2011 and said operating profits were likely to be broadly flat at around £274m (€328m), even though the previous year benefited from the football World Cup.

The final quarter of the year saw 11% growth in over-the-counter bets, although this was offset by weaker margins after a good November for football punters placing small stake, high return multiple bets.

Chief executive Ralph Topping described the company’s performance in 2011 as “very positive” and said there were good opportunities for the business beyond its traditional roots as more governments open up to regulated gambling.

He added: “Going into 2011, we were – like many businesses with a strong presence in the UK – predicted to face a challenging consumer backdrop but our overall performance shows we’ve seen the benefit of being a predominantly low ticket leisure activity.”

The company’s online operation delivered its second consecutive year of revenues growth in excess of 20%, with a figure of 28%. Operating profits in the division are expected to be 17% ahead at around £106m (€127m).