The share price has continued to be weak and William Hill has fallen to a level where we believe it is right to pick up shares for the medium-term. We are changing our recommendation to ‘add’ from ‘hold’.
GEETANJALI SHARMA | EXECUTION NOBLE
William Hill’s performance is impressive as its 26 per cent group net revenue increase compares with eight per cent at Ladbrokes. Management is being cautious on the expectations given the larger consumer concerns.
NIGEL PARSON | EVOLUTION SECURITIES
William Hill’s results show no major surprises, with flat Ebitda driven by online growth and a strong World Cup, offset by horseracing results and higher marketing costs. The retail cash generation supports a solid dividend yield.