William Hill announced mixed FY 19 numbers. Sales missed while the bottom-line, although contracting significantly, came in ahead of estimates. The bottom-line outperformance was driven by Retail and an earlier-than-expected breakeven in the US business. The company confirmed a dividend of 8p (5.34p final, 2.7p interim already paid), down from 12p in the prior year. Following the mixed bag (top-line miss/bottom-line beat), we will tweak our estimates marginally downwards.
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FY 19: Top-line miss overshadows retail profit surprise
- Published:
27 Feb 2020 -
Author:
Virendra Chauhan -
Pages:
3
William Hill announced mixed FY 19 numbers. Sales missed while the bottom-line, although contracting significantly, came in ahead of estimates. The bottom-line outperformance was driven by Retail and an earlier-than-expected breakeven in the US business. The company confirmed a dividend of 8p (5.34p final, 2.7p interim already paid), down from 12p in the prior year. Following the mixed bag (top-line miss/bottom-line beat), we will tweak our estimates marginally downwards.