Tough 15Q3 sees William Hill issue 2015 profit warning

William Hill has warned stakeholders and investors that its annual profits will be forecast below market expectations for 15Q3.

The bookmaker detailed a rough 15Q3 trading performance, reporting a 39 percent dive in group operating profits.  

Suffering the same fate as competitor Ladbrokes, William Hill maintained that sports wagering had been positive during the period, driven by strong football trading, however group performance had been negatively impacted by unfavourable UK racing results.

William Hill noted that the negative results, combined with higher UK tax charges on its operations, would have made it difficult to repeat its 14Q3  performance, which was driven by high wagering activity recorded during the 2014 FIFA World Cup.

The operator estimates that it paid £23 million in combined tax duties during the quarter. 

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