Key financial highlights
Record operating profit with continuing successful diversification: 40% of Group net revenue from our digital channels3 (2013: 36%) and 18% from international markets (2013: 15%)
Full year dividend 12.2 pence, up 5% slightly ahead of EPS growth
Strong net cash inflow from operating activities of £368.2m and reducing debt levels (1.4x net debt to EBITDA for covenant purposes)
Key operational highlights
Continued strong growth in Online Sportsbook: turnover up 28%, mobile wagering up 55% and record-breaking World Cup
Online gaming net revenue up 17%: 117% growth in mobile driven by proprietary Vegas platform
Strong growth in net revenue in Italy and Spain, up 39% and 64%, respectively
Retail net revenue flat and operating profit1 down 2%, with the impact of less favourable sports results partly mitigated through effective cost control
Australian business substantially reshaped, delivering improvements in key performance indicators, net revenue4 growth of 11% and operating profit1,4 growth of 121%
William Hill brand launched in Australia in February 2015
Strong US performance ahead of expectations: net revenue +31% and operating profit1 up 98%
Significant progress in encouraging responsible gambling with implementation of ABB Code, launch of independent Senet Group, ground-breaking Responsible Gambling Trust (RGT) research and inaugural GambleAware Week
James Henderson, Chief Executive Officer of William Hill, commented:
"2014 was a record year for William Hill, with good operating profit growth benefiting from the continued digital and international diversification of our revenue streams, and from a record-breaking World Cup performance. I am particularly pleased with the progress in our three strategic areas of focus: differentiation through technology; continued internationalisation; and maximising the omni-channel opportunity of Retail and Online.
