William Hill shares decline after profit drop
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The share price of bookmaker William Hill (LON:WMH) fell by 3.30% to 170p (as of 13:15 GMT) after the company said that operating profits from continuing operations during the year ended 1st January were down by 15%. The firm’s online divisions performed well during the period with rapid expansion in the US, but retail profits fell as expected due to difficult high street conditions.
CEO Phillip Bowcock said: “2018 was a pivotal year for both William Hill and the wider industry. We now have greater clarity around the key challenges and opportunities for our business. In 2019 we will remodel our Retail offer while building a digitally-led international business, underpinned by a sustainable approach as part of our Nobody Harmed ambition. With rapid expansion underway in the US, building on profitable foundations, and the acquisition of Mr Green nearing completion, we look forward to making further progress this year“.
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