27 Feb 2010

William Hill profits dive

8:27 pm on 27 February 2010

The British bookmaker William Hill has reported a big slump in full-year profits, partly due to accounting charges.

Pre-tax profits for 2009 amounted to 120.9 million pounds, a drop of almost 60% from the 292.3 million pounds made by the group in 2008.

Performance was also hit by an unusual number of draws at the start of this season's Premier League football series.

Overall revenue grew 4% to 998 million pounds, while online revenue jumped 63% to 204 million pounds.

Last week, Ladbrokes reported a profit of 191.3 million pounds for 2009, a fall of 28% from the previous year.