Despite slow-going in its poker and casino websites, British bookmaker William Hill announced a 2 percent rise in pre-tax profits in the first fiscal half of 2007, with a reported profit of around 134.2 million pounds ($272.6 million US). Analysts forecasted between 127.7 to 136.3 million pounds profit.
Shareholders in the company also received good news when Hill stated that it would resume its buyback of shares program, upping its interim dividend to 7.75 pence. Previous disclosures announced a plan to return between 320-400 million pounds to shareholders by the end of 2007. Considering that more than half of that was returned by year’s end 2006, analysts see strength in the company’s finances.
William Hill’s correct expectations of a decline in gaming following last year’s World Cup softened the relatively minor 1 percent decline in gross wins for the bookmaker. In a statement, the company stated that they were pleased they had seen continued profit “notwithstanding the absence of a major football tournament and the incremental costs of AMLD (the tax on video gambling machines)”.
