William Hill Q1 IMS
William Hill PLC (LSE: WMH) (William Hill or the Group) announces its Interim Management Statement for the 13 weeks ended 27 March 2012 (the period or Q1). All comparisons are with the equivalent 13-week period in 2011 (Q1 2011).
Key financial highlights
· Group net revenue grew by 12%
· Retail net revenue grew by 5%
· Online net revenue grew by 33%
· Group Operating profit1 was 19% higher
Key operational highlights to date
· Roll-out of Storm Plus to additional 500 shops underway
· c190,000 Sportsbook mobile app downloads from launch in the Apple App Store, with 30% of customers being brand new to William Hill
· Mobile gaming expanded with Bingo launch
· Ground-breaking sponsorship deal for williamhill.com and the Football Association as first bookmaker to be an official England supporter and betting partner of the FA Cup
Ralph Topping, Chief Executive, commented:
"I am pleased by our strong performance in the first quarter. Sportsbook wagering grew by 31%, OTC wagering saw underlying growth after taking into account adverse weather during the quarter and sports results contributed to a strong margin. Our investments in marketing and innovations continue to deliver benefits, with our Sportsbook exceeding £50m in turnover in a single week for the first time during the quarter and mobile turnover reaching almost £11m in a single week. Our mobile performance is now benefitting from our Sportsbook app being available in the Apple App Store, giving us access to thousands of new customers who have never bet with William Hill before, highlighting the growth potential of these new channels and their importance to our multi-channel offering. With positive underlying trends at this relatively early stage in the year, the Board remains confident in its expectations for the full year."