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William Hill ups profit stakes

02/03/2006

The UK's leading bookmaker William Hill posted a rise in annual profits today as it continues to see growth in its online gaming businesses.

The bookmaker reported a five per cent rise in pre-tax profits, which hit £246 million compared to £234.1 million for the year before.

Basic earnings per share were down though, at 28.5p compared to 36.5p in 2004.

Chairman Charles Scott said that 2005 saw the group take a variety of strategic steps forward, including the acqusition of Stanley Leisure's betting shops.

He acknowledged that earnings per share had fallen "slightly", but said: "As a sign of the board's confidence for the future, we are proposing to increase total dividends by 11 per cent."

William Hill expects to complete the integration of the Stanley Leisure shops by the end of the first quarter this year, as its online gaming operations continue to shine, with poker delivering a 90 per cent increase in gross winnings.

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