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Jan. 21, 2019, 2:53 a.m. EST

William Hill warns 2018 earnings will fall

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By Adria Calatayud

William Hill PLC (WMH.LN) said Monday that it expects adjusted operating profit for 2018 to fall 15% on year, but to be in line with previous guidance.

The betting company said adjusted operating profit from continuing operations--excluding exceptional items--for the year ended Jan. 1, 2019 is estimated to be 234 million pounds ($301.2 million). This compares with guidance of between GBP225 million and GBP245 million, the company said.

Excluding the impact of customer due-diligence measures in the company's online offering and U.S. expansion costs, William Hill's underlying operating profit increased around 4% on year, it said.

The company said that its retail profit fell on year, challenged by wider weak retail conditions, but that the online segment delivered positive underlying performance. William Hill's U.S. business broke even in 2018, it said.

William Hill said it will remodel its retail offer in 2019 while building a digitally led international business.

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