Looking at the company statement is also full of positive key words and is one of the things that Naked Trader Robbie Burns likes to look out for.
http://www.digitallook.com/news/rns/20257471-14283/WMH-William_Hill_Interim_Results_htmlRalph Topping, Chief Executive of William Hill, commented:"We have seen a strong performance in our multi-channel UK business in the first half, with a good performance from both OTC and machines in Retail, and with our focus on innovation and investment continuing to deliver outstanding growth at William Hill Online. Mobile remains a top priority and continues to outperform our expectations. The William Hill Sportsbook app, which has been top-ranked since its launch in the Apple App Store in mid-February, has delivered more than 40,000 new customers. Our rapidly growing mobile business increased to 22% of our Online sports betting turnover and 11% of gaming net revenue in the first half."We have made good progress in the period on our strategy in expanding internationally, including being awarded an online licence in Spain. It was also very pleasing to be awarded the Nevada licences in June and to complete the acquisition of the three land-based sports betting businesses. Though their contribution to the Group today is small, they represent an important strategic step for William Hill as we look to build our international business."With further innovation to come, the Group is in good shape and the Board remains confident of its expectations for the full year."
It will be interesting to see if the company can maintain this momentum, although I would expect some profit taking after such a good run at some stage. As to when, I really wouldn't like to bet against this strong momentum right now, I will leave it to the charts to tell us.
Just to add, UK Analyst market report from yesterday below. William Hill had a pretty good day, but just to note that as the share price goes up, the dividend yield falls. Now around 3.1% when it was over 4% just a few months ago.
ReplyDelete"William Hill (WMH) reported revenues of 627.8 million pounds for the half year ended 26th June, up 11% on 2011's comparable period, with online sales rising by 30% to 198.4 million pounds. The bookmaker benefited from the launch of its mobile app, launched in mid-February, which delivered over 40,000 new customers and accounted for 22% of online sports sales. The group continued its expansion in the US, with the acquisitions of American Wagering, Brandywine Bookmaking and Cal Neva for a total consideration of 31 million pounds. The shares leapt by 20.7p to 311.1p."
Sportingbet bid and there could be more.
ReplyDelete"There may be further deals to come in the gaming sector should William Hill make a successful bid for Sportingbet and buy Playtech out of its minority stake in their online joint venture.
Bwin.party, which slipped 1.2 to 103.9p, and 888 Holdings, unchanged at 92p, could ultimately become targets of William Hill, according to Peel Hunt analyst Nick Batram. Should the bookmaker acquire Playtech’s 29pc stake in William Hill Online and complete a deal with GVC Holdings for Sportingbet, the group “will become a credible global consolidator”, Mr Batram said, adding that the company is likely to turn to equity investors to help finance a Sportingbet deal. William Hill shares added 0.8 to 316.8p."
http://www.telegraph.co.uk/finance/markets/9574947/William-Hill-creeps-higher-amid-talk-of-consolidation.html