William Hill shares up on profits news

<p>William Hill’s share price is up today.</p>

The share price of William Hill is up today (April 19th) on the back of the news the bookmaker has seen a rise in its profits.

Latest financial results for the first quarter of the year showed an eight per cent rise in profits, with the company stating an expansion in its online gambling was one of the reasons for the rise, with revenues growing by 15 per cent on the previous three months.

Chief executive Ralph Topping described the firm's start to the year as successful, noting William Hill has grown its UK online market share from ten per cent to 15 per cent over the course of the last four years.

He said: "We aim to increase our share and are making significant investments in marketing, technology and people to achieve that."

On the back of the news profits and revenues are up for the company, its stocks were trading 3.56 per cent higher.

At 15:47, they were selling for 404.52, a rise of almost 14 points on the start of the day's trading.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.