The parent company of William Hill and 888, Evoke Group, reported its first quarter of revenue growth since 2022, citing the success of its turnaround strategy.
In its third-quarter trading update, the firm posted £417m in revenue, despite a 13% decline in its gambling unit due to customer-friendly football results in the 海角视频, which impacted revenues by approximately £10m, as reported by .
The company saw an 8% increase in revenue across its markets, with an 11% growth in core European markets, including the 海角视频, Ireland, Italy, Spain, and Denmark, which now account for nearly 85% of online revenues, including Romania.
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This growth marks a significant improvement for Evoke Group, which has been struggling over the past year.
Under the leadership of Per Widerstrom, who took over last year, the company has been implementing cost-cutting and turnaround plans. In August, the company reported a sharp decline in earnings, describing the first six months of 2024 as "disappointing and behind our initial plan."
However, Widerstrom stated that the latest growth demonstrates the effectiveness of the turnaround plan.
"I have now been in position for a year, and I am pleased that the turnaround of the business is working, with the first quarter of revenue growth since Q1 2022 and positive underlying trends," he said. "We are achieving our plans to improve trading in the short-term, while simultaneously radically transforming the Group's capabilities for the long-term."
The William Hill owner has reaffirmed its outlook and is expecting revenue growth of 5-9% in the second half of its financial year. This comes with an anticipated improvement in adjusted EBITDA margin to around 21%.