Plus   Neg

William Hill HY Pre-tax Loss Narrows

William Hill PLC (WMH.L) reported that its loss before tax for half-year results for the 26 weeks narrowed to 63.5 million pounds from last year's 819.6 million pounds. The prior year result included an impairment charge of 882.8 million pounds recognised in the Retail segment following the announcement of the UK Government's decision to reduce the maximum stake on B2 gaming products under the Triennial Review.

Adjusted profit before tax fell 47% to 50.8 million pounds from the previous year.

Statutory loss after tax also narrowed to 61.2 million pounds from 803.3 million pounds in the prior year.

Adjusted earnings per share fell 42% to 5.3 pence. On a statutory basis, loss per share were 7.1 pence, compared to a loss per share of 93.5 pence in the prior year.

Group grew revenue by 1% in the period to 811.7 million pounds from last year.

The company now expects adjusted operating profit for the year to be in the middle of the 50 million pounds -70 million pounds range previously guided.

The company expects the Group's full-year performance will be in line with its previous guidance, assuming normalised gross win margins in the remainder of the year.

Georgina Harvey has informed the company that she will step down as Chair of the Remuneration Committee of William Hill, with effect from 9 October 2019 and from the Board, with effect from 31 December 2019.

Lynne Weedall will succeed Georgina Harvey as Chair of the Remuneration Committee, with effect from 9 October 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Labor Relations Board ruled in favor of McDonald's in a long-running case filed by workers who accused the fast-food giant of retaliation after they tried to unionize. The lawsuit, filed by 20 employees against McDonald's and some of its franchise operators in 2015. The lawsuit was seeking a ruling that would consider McDonald's a 'joint employer' with its franchisees. Shares of Facebook fell almost 3 percent in Thursday's trading after the Wall Street Journal reported that the Federal Trade Commission is considering seeking a preliminary injunction against Facebook amid antitrust concerns over the company's integration of its apps. Facebook had earlier said it was planning to integrate its three messaging services. Beverages giant Pepsi announced the launch Pepsi Café, a new coffee-infused cola, which will debut in the United States in April 2020. The new beverage, which aims to satisfy both cola lovers and coffee fanatics across the US, comes in two delicious flavors - Original and Vanilla, with roasted Arabica coffee. It will be available at all major national retailers beginning in April next year.
Follow RTT