William Hill looks to be a winner with improved profit predictions

William Hill betting shop. Pic: John Stillwell/PA Wire
William Hill betting shop. Pic: John Stillwell/PA Wire
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William Hill is predicting an improved proft rise of 11 per cent following favourable sports results.

The company said it expected full-year adjusted operating profit for the 52 weeks to December 26 to be £290 million.

It added its retail and online gross margins were “significantly ahead” in the 9 weeks from November 20, thanks to favourable football and horse-racing results.

According to Thomson Reuters I/E/B/S, analysts were on average expecting a 2017 operating profit of £271.9 million.

The company, which employs more than 1,000 people in Leeds, said trading momentum was strong in both its British and U.S. markets, although gaming growth had slowed at its retail operations

“We have delivered a strong result in 2017, reflecting our focus on rejuvenating online, growing the U.S. and building an attractive omni-channel proposition”, Chief Executive Philip Bowcock said.

The higher-than-expected profit marks a clear recovery from 2016, when the company fired its previous chief executive.