LONDON (ShareCast) - Shares in William Hill (LSE: WMH.L) fell back Friday after its profits fell, but the bookmaker said it had still not felt the impact of any downturn.
Profit before tax in the half year to 1 July fell to £113.3m from £134.2m over the same period a year ago, even as revenues climbed to £493.1m from £477.3m.
Profits were impacted by costs such as £5m relating to the company's signing up for Turf TV's live horse racing coverage and a disappointing performance from the telephone betting division.
"So far, we have seen little evidence that our business has been impacted by the economic downturn."
Turning to current trading, the company said: "In the four weeks to 29 July 2008, the group's gross win was down 1%, mainly reflecting poor horseracing results in the last week of this short period. As ever, as short a period as this is never a guide to longer term prospects."
The company maintained its interim dividend at 7.75p a share.
Source: http://uk.biz.yahoo.com/080731/214/i44tc.html
