William Hill Posts Profit Loss
William Hill
William Hill has posted a sizeable fall in profits for 2009, when compared with 2008’s profit figure of £292.3m. Reports suggest that William Hill’s 2009 profits are down by 7% to £120.9m, with the bookmakers suggesting that tough economic conditions are to blame for the loss. While favourable football results impacted on the company’s bookmakers service, the company's yearly revenue was rescued by William Hill Casino, which saw an increase of £78.4 million, when compared with 2008’s figure of £125.1 million. After moving to Playtech casino software, which also powers the likes of Europa Casino, William Hill has reported a 28% increase in new accounts, bringing 2009’s figure to 665,000.
Ralph Topping, chief executive at William Hill, took time to praise the company’s online sector, suggesting that the company has “made great strides” and noting that “William Hill Online is nearly unrecognisable from one year ago”. Other sectors of William Hill haven’t proved as profitable as their online operations, with the telephone division of the company running at a loss of £1.8m. On a brighter note, the company’s overall revenue rose by an impressive 4% to £998m. The company has also announced that their debt level has also decreased to £602.6m.
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