28th February 2014
Brokers are tipping bookmaker William Hill as a ‘buy’ as the group reports its full-year results writes Philip Scott.
The UK’s largest turf accountant posted an operating profit of £335m for last year, up 3% on 2012.
Although the FTSE 100 listed group’s shares have been flat over the past 12 months, brokers are however upbeat on its prospects with Numis Securities today reasserting its ‘buy’ recommendation, echoing the market consensus.
Sheridan Admans, investment research analyst at The Share Centre, is also calling the stock a ‘buy’. He says: “Despite some highly unfavourable sporting results in 2013 and early 2014 William Hill has reported a strong set of full year results this morning, with an impressive performance from its online operation.
“We continue to recommend investors ‘buy’ William Hill. Growth in its mobile and online operations and selective international expansion should provide regional regulatory and economic diversification, while expanding its services to appeal to a wider demographic.”
Brokers are confident that 2014 could be a good year for William Hill as the World Cup is very likely to encourage more people to place bets. “The global appeal of events William Hill cover means it is involved with most major sporting events as its mobile strategy is making gambling more accessible,” adds Admans.