William Hill reports strong interim results, ups dividend by 16 pct

Bookmaker William Hill PLC (LON:WMH) reported a strong set of interim results, saying it is performing well and the company is looking to the second half of the year and beyond with confidence.

Net revenue in the 26 weeks to June 28 2011 rose 7 percent from the same period a year ago to £567.8 million.  Online net revenue in the period rose by a massive 23 percent to £152.7 million, while the retail business showed a 2 percent revenue rise to £398.8 million.

Pretax profit rose 23 percent in the period to £126.9 million, and the group is raising the interim dividend by 196 percent to 2.9 pence.

Chief executive Ralph Topping said: "This is an especially strong set of results for William Hill in challenging economic conditions. The comparator period also included part of a World Cup that delivered a record result for us last year.

“I am pleased with both our Online performance, which has been driven by outstanding Sportsbook growth…We have also made progress on our international growth strategy, both in Europe and through the three impending land-based sports-betting acquisitions we are currently pursuing in the US.”