UK-based land and online betting company, William Hill has released an interim financial report for the first half of 2012. The results, until the end of June, show a substantial increase in net revenue and profits.
Operating profits for the six months to June 26 increased 14 percent year-on-year to £167.8 million and net revenues for the same period increased 11 percent year-on-year to £627.8 million. A 30 percent year-on-year increase to £198.4 million was seen in online net revenues while the retail operations grew by 5 percent to £417.4 million.
Online sportsbook net revenues grew by 30 percent year-on-year; however the most significant growth was seen by the mobile sportsbook which saw a 390 percent growth year-on-year and comprised 28 percent of total betting for the month of June.
“Mobile remains a top priority and continues to outperform our expectations,” said Ralph Topping, CEO at William Hill. “The William Hill sportsbook app, which has been top-ranked since its launch in the Apple App Store in mid-February, has delivered more than 40,000 new customers. Our rapidly growing mobile business increased to 22 percent of our online sportsbetting turnover and eleven percent of gaming net revenues in the first half.”
Topping discussed the innovations and investments that have been made at William Hill in order to facilitate the growth that they have seen in the first half of the year.
“We have made good progress in the period on our strategy in expanding internationally including being awarded an online license in Spain. It was also very pleasing to be awarded the Nevada licenses in June and to complete the acquisition of the three land-based sportsbetting businesses. Though their contribution to the group today is small, they represent an important strategic step for William Hill as we look to build our international business.”
“With further innovation to come, the group is in good shape and the board remains confident of its expectations for the full year.”