February 23, 2018 / 7:28 AM / 9 months ago

William Hill profit up 11 pct on online business, sporting results

Feb 23 (Reuters) - British bookmaker William Hill posted an 11 percent increase in annual pretax profit, led by growth in its online business and payout gains from more draws being played on Boxing Day English Premier League soccer games.

William Hill, which named a new chief executive and a finance head last year, said adjusted operating profit for the 52 weeks to Dec. 26 rose to 291.3 million pounds ($406 million) from 261.5 million pounds in 2016.

Revenue from online business grew 13 percent, while adjusted profit surged 34 percent.

Its gross win margin, which was soft in the first half, benefited from favourable sporting results in the fourth quarter to rise to 7.6 percent. ($1 = 0.7175 pounds) (Reporting by Rahul B in Bengaluru; Editing by Biju Dwarakanath)

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