William
Hill Profit Beats Forecast
As reported by Bloomberg: "William
Hill Plc, the U.K.'s second- largest bookmaker,
said annual earnings beat its forecast after
a run of winning wagers by customers came to
an end last month.
"Operating
profit for the year ended Dec. 27 was `slightly'
more than the company's estimate of 230 million
pounds ($396 million) to 240 million pounds,
Chief Executive David Harding said today in
an interview. William Hill said in November
that profit would be below analysts' estimates
after customers won more bets.
"…Shares
of William Hill rose as much as 6.6 percent
in London as concern about profitability at
Britain's bookmakers eased. The stock, along
with shares of Ladbrokes owner Hilton Group
Plc and Ireland's Paddy Power Plc, slid in November
after the companies said earnings were hurt
by too many winning favorites.
"…William
Hill's shares advanced 32.5 pence to 568 pence
at 10:28 a.m. in London, fully erasing their
5 percent drop in 2005. Hilton shares added
3.25 pence to 366.75 pence, while Paddy Power
stock gained 58 cents, or 4.8 percent, to 12.68
euros in Dublin…"
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