Whitman Howard - William Hill (WMH LN) William Hill (WMH LN, HOLD, 305p) - Update | Strong FY17, but expect Retail Australian drag

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Whitman Howard

Michael Campbell

EUR 57.00 For Business Accounts Only

William Hill (WMH LN, HOLD, 305p) - Update | Strong FY17, but expect Retail & Australian drag

WMH produced a strong 4Q17 where a run of sporting results were favourable. Management guiding operating profits at c. Â£290m for FY17. We bring our FY17E estimates in line, with changes mainly to online GW margin and some adjustment to retail sports GW margin.

16/01/2018 7 EN

Underlying

William Hill

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Provider

Whitman Howard

Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.

The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.

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Analysts

Michael Campbell

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William Hill (WMH LN, HOLD, 305p) - Update | Strong FY17, but expect Retail & Australian drag

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Feasibility Study Results in December to be a Catalyst for this Junior

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