Gambling operator William Hill posted earlier today its financial results for the 52 weeks ended December 29, 2015. Net revenue was down 1% year-on-year to £1.59 billion as compared to the £1.6 billion posted for the same period of 2014.
The company reported operating profit of £291.4 million in 2015, down 22% from £372.2 million in 2014. Excluding the impact of additional UK gambling taxes, operating profit increased 2% year-on-year. Profit after tax dropped 8% year-on-year and amounted to £189.9 million. Operating cash flow totaled £300.9 million compared to £368.2 million in 2014. Net debt intended for covenant purposes was reduced to £488.2 million in 2015, compared to £602.8 million in 2014.
Commenting on the gambling operator’s performance in the 52 weeks ended December 29, 2015, William Hill CEO James Henderson said that they made considerable operational progress in their strategic priorities, with those being omni-channel, technology, and international business.
Mr. Henderson pointed out that in terms of technology, they launched an online platform that allowed them to provide customers with different innovations more rapidly and frequently. Last year, William Hill launched what has become known as Project Trafalgar, thus providing customers with front-end experience on desktop and mobile and through native apps.
William Hill is also to roll out proprietary self-service betting terminals in its betting shops across the UK in the first half of 2016. Thus, the company will be able to “bring the best of online to [its] shops,”
As for the operator’s international business, the executive said that the reshaping and the substantial investment in William Hill Australia resulted in the division posting excellent results for 2015. In December, it was announced that the operator was to become the official sponsor for Australian Open. William Hill said that during the 2016 edition of the major tennis tournament, it acquired around 1,000 gambling customers per day and turnover from in-play tennis betting increased the impressive 680%.
Last but not least, Mr. Henderson pointed out that they are confident in the company’s outlook for 2016 and that they believe it is in an excellent place to deliver on its growth strategy.
