Online Bookmaker Records High Profits
By staff
William Hill Plc, the U.K.'s second- largest bookmaker, said annual earnings beat its forecast after a run of winning wagers by customers came to an end last month.

William Hill said that operating profits for the year ended Dec. 27 was `slightly' more than the company's estimate of 230 million pounds ($396 million) to 240 million pounds.

During an extraordinary summer, Tom Segal tipped a winner on 10 consecutive Saturdays in his Pricewise column in the Racing Post, including one at 20-1 odds. This had an effect on the profits of all the major bookmakers.

Shares of William Hill rose as much as 6.6 percent in London as concern about profitability at Britain's bookmakers eased. The stock, along with shares of Ladbrokes owner Hilton Group Plc and Ireland's Paddy Power Plc, slid in November after the companies said earnings were hurt by too many winning favourites.

 
 
 
 
 
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