William hill announced better-then-expected numbers in its trading update for the 17-week period ending 29 October. Revenue growth came in at 1%, driven by online and the US, and was offset by the expected weakness in retail. The company also closed c.700 shops in the period, in response to the £2 stake limit imposed on FOBT machines in the UK. Following the latest update, we will be tweaking our estimates. However, we do not expect any significant change to our recommendation.
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A strong US drives performance
- Published:
22 Nov 2019 -
Author:
Virendra Chauhan -
Pages:
3
William hill announced better-then-expected numbers in its trading update for the 17-week period ending 29 October. Revenue growth came in at 1%, driven by online and the US, and was offset by the expected weakness in retail. The company also closed c.700 shops in the period, in response to the £2 stake limit imposed on FOBT machines in the UK. Following the latest update, we will be tweaking our estimates. However, we do not expect any significant change to our recommendation.