Online take boosts William Hill's profits
Published 06/08/2011 | 05:00
BRITISH bookmaker William Hill has reported pre-tax profits of £126.9m (€145.7m) for the first half of this year, up 23pc from the same period a year earlier. Net revenue rose by 7pc to £567.8m. Revenue from betting shops was up just 2pc, but online revenue grew by 23pc. William Hill chief executive Ralph Topping described the results as 'especially strong' in tough economic conditions, and compared with the previous period, which included the World Cup. But it closed 20 under-performing shops in the Republic of Ireland.
Print firm battles to win internet clients
PRINT and design franchise Snap has launched an online service for small and medium-sized Irish businesses to design and print business cards and marketing material in partnership with technology firm Quark. Snap's aim is to win printing business which it says is currently lost to overseas competitors who can design and ship materials ordered online at cheaper prices than high street print shops.
P&G sees rise in net income to $2.51bn
PROCTER & Gamble, the world's largest consumer-products company, forecast annual revenue which topped some analysts' estimates and said fourth-quarter profit rose 15pc as sales gained in emerging markets. Net income in the period ended June 30 climbed to $2.51bn (€1.76bn), or 84c a share, from $2.19bn, or 71c, a year earlier, Cincinnati-based P&G said in a statement. The average estimate from analysts was for profit of 82c cents a share. Chief executive Bob McDonald has added services and worked to expand sales in emerging markets to reduce dependence on the US.
Losses force Fannie Mae to seek $5.1bn
THE semi-public US mortgage financing giant Fannie Mae has said it will seek an additional $5.1bn (€3.6bn) from the US government, following a steep quarterly loss. Fannie Mae said it lost $2.9bn in the second quarter of 2011 as high unemployment and a prolonged slump in the US housing market continued to chew away at its mortgage portfolio. "The loss in the second quarter of 2011 reflects the continued weakness in the housing and mortgage markets," Fannie Mae said in a statement.