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Premarket London: William Hill Beats Profit Expectations

Published 13/01/2020, 07:33
© Reuters.

Investing.com - Here is a summary from the most important regulatory news releases from the London Stock Exchange ahead of the UK market open on Monday 13 January. Please refresh for updates for UK market news from the LSE RNS on individual UK shares from FTSE 100, FTSE 250 and FTSE All-Share.

Here you can find UK Market Tools and Charts for Live UK Shares Prices.

  • Bookmaker William Hill (LON:WMH) reported better than expected profits for 2019 following favourable sporting results throughout the year. It also said Chief Financial Officer Ruth Prior is to leave the company.

  • Prior will also step down from her role as a director of the firm. She is expected to join Element Materials Technology as CFO.

  • Net revenue from the bookmaker’s online operations are expected to be flat, while its retail business generated operating profit above the guidance of 50 million pounds to 70 million pounds.

  • The company’s U.S. business showed continued growth in the fourth quarter and is expected to breakeven, compared to previous guidance of a loss of $20 million.

  • The company said it was on track to becoming digitally-led.

  • During the year the Group made good progress towards delivering its long term ambition to become a digitally led and internationally diversified business of scale while continuing to embed a culture of responsible gambling.

  • "The Group has delivered a strong operating performance, ahead of our expectations and against a challenging regulatory backdrop. We made good progress on a number of fronts, including our Retail business, Online and in the US, enabling us to deliver on our long term strategic ambitions.” said CEO Ulrik Bengtsson.
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  • Iron ore producers Ferrexpo (LON:FXPO) said its annual production dropped in 2019, however reported an increase in its cash balance for the year.

  • The company said its net was approximately $282 million, compared with $340 million in 2018, while its overall cash balance in 2019 had increased to approximately $131 million from $62 million the previous year.

  • The Swiss-based company with production in Ukraine confirmed its interim special dividend, which it said reflected the firm’s strong cash generation abilities. The dividend of 6.6 cents, payable on 17 January was announced on 2 January 2020.

  • Pharmaceutical company AstraZeneca (LON:AZN) said it will close trials into drug Epanova following recommendations from an independent committee, a decision which is set to impact the company’s fourth quarter core earnings.

  • The drug company said it is undertaking a review into the ongoing value of the $533 million Epanova assets while a write down of $100 million in inventories is anticipated.

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