Trading statement
Strong performance and positive strategic developments
29 January 2013
William Hill PLC (LSE: WMH) (William Hill or the Group) announces a trading update for the 14 weeks from 26 September 2012 to 1 January 2013 (Q4) and the unaudited 53 weeks to 1 January 2013 (full year). The comparator periods are the 13 weeks and 52 weeks ended 27 December 2011. For underlying comparison purposes, 13 and 52 week comparative data is provided throughout the text as well as in a table at the end of the statement, for which the results relating to the specific week ending 1 January 2013 have been removed.
Full year key financial highlights
· Group net revenue grew by 12% (52 week basis +10%) and Operating profit1 was up 20% (52 week basis +18%)
· Online net revenue grew by 27% (52 week basis +24%)
· Retail net revenue grew by 6% (52 week basis +4%)
Q4 strategic highlights
· Recommended offer made for Sportingbet's Australian and Spanish licensed online businesses
· Initiated valuation process under call option to acquire Playtech's 29% stake in William Hill Online
Ralph Topping, Chief Executive of William Hill, commented:
"Q4 delivered a strong end to an already good year in 2012. Performance was robust in Retail and profits continued to grow strongly in Online, with sporting results going in our favour in both channels. It was a pleasing end to an important year for William Hill, a year in which we have made substantial strategic progress. With both the acquisition of Sportingbet's online business in Australia and the current Playtech call option process expected to conclude during early 2013, the Group continues to enhance its already strong platform for the continued development of the business."
