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William Hill to post lower than expected results for 2016

2017-01-10 11:49:00

William Hill has cited unfavourable football and horseracing results in December as one of the main reasons for lower-than-expected profits in 2016.

In a trading update published ahead of its full-year results statement in February, the bookmaker said operating profit for the 12 months to December 31, 2016, amounted to £260 million (€300.7 million/$317 million), which is at the bottom end of guidance of £260 million to £280 million.

William Hill added that during the nine weeks since its trading statement on November 16, wagering trends continued to be in line with those previously reported. However, gross win margins were “below expectations”, mainly due to unfavourable football and racing results.