William Hill ends year strongly

20th Jan 2010 07:09

Charles Scott, chairman of William Hill since 2004, is to stand down as the bookmaker reported healthy trading in the final three months of 2009. Scott, who will stay on until a successor is found, added that he is leaving the business in "excellent shape". In a trading statement today, Hill added that it saw good trading through the balance of 2009 and gross win margins for the full year returned to the normal 17-18% range. Group net revenue rose 6% in Q4 and is expected to be up 4% for the full-year. Earnings before interest and tax should be around £250m.William Hill Online, its joint venture with Playtech underlying profits 35% higher in the three months (pro forma: -1%). This resulted in a minority interest for Playtech of £7.1m in Q4 and £20.1m in the full year, Hill added.