17th Nov 2005 14:02
William Hill PLC17 November 2005 William Hill PLC Trading Update William Hill PLC reported on 5 September 2005 that the Group (excluding StanleyRetail Betting) experienced growth in gross win and costs of 5.5% and 2.5%,respectively, in the 9 weeks ended 30 August 2005. Since the last trading update, the Group has in common with other bookmakersexperienced mixed sporting results that have held back growth in gross win.Excluding Stanley Retail Betting, in the 18 weeks ended 1 November 2005, grosswin in the Retail and Telephone channels was broadly flat and in the Interactivechannel was up 16%. Operating costs (before exceptional items) continue to be tightly managed andare expected to increase for the Group (excluding Stanley Retail Betting) bybetween 4% and 5% for the full year in line with previous guidance. Whilst the outturn for the year ending 27 December 2005 will depend on sportingresults in the next 6 weeks, the Board currently expects that profit beforeinterest, tax and exceptional items for the enlarged Group will be in the range£230m - £240m for the full year. The integration of Stanley Retail Betting is going well with pricing and riskmanagement disciplines already harmonised, the physical re-branding of licensedbetting offices well advanced, and the early trials of upgraded in-shoptechnology proving successful. The integration exercise is on track to becompleted by 31 March 2006. Other operational programmes are progressing smoothly with new electronic pointof sale and text systems installed in over 85% of the William Hill estate. Thetechnology is delivering encouraging improvements in labour productivity andwill ultimately improve our ability to capture and settle bets faster. Accordingly, the Board maintains a positive view for the Group for 2006 andbeyond. Contact Details David Harding, Chief Executive Tel 020 8918 3910Tom Singer, Chief Operating Officer Tel 020 8918 3910James Bradley, Deborah Spencer, Brunswick Tel 020 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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