Storm not snow delivers profits

19/01/2011

William Hill has credited its gaming machines as contributing to a continuation of positive growth in the fourth quarter of 2010, as well as its online offering.

Retail turnover grew in December despite many races being cancelled by the snow.

William Hill currently expects to  deliver pre-exceptional earnings before interest, tax and amortisation of around £275m (2009: £258.6m).

Retail turnover grew c8% year-on-year, driven by a strong machines performance following the roll-out of the Inspired Gaming B2/3 ‘Storm’ cabinets. OTC gross win margin was at the top end of the normal trading range at 17.9%. Retail net revenue grew by c3% year-on-year, with machines gross win growth of c13% more than offsetting a c1% decline in OTC net revenue. On a net revenue basis, machines grew by 11%, reflecting the impact of the VAT increase in January 2010.