Bookmaker William Hill pointed to a bad week where customers betting on soccer matches hit a major winning streak for a poor performance in the company’s first quarter.
James Henderson, the chief executive, said William Hill was confident about prospects for the full-year despite the early setback.
“Whilst inclusion of the loss-making week leaves us behind internal expectations for the period as a whole, the board’s view is that this volatility in sporting results is now a normal part of the group’s trading, given the increased proportion of accumulator football betting in online as well as retail. Therefore, the board remains confident in its expectations for 2015.”
Still, shares of William Hill dropped 5.7 percent after the announcement.
In the year to December 2014, pre-tax profit at William Hill fell 9 percent to £234m, while revenue increased by 8 percent to £1.6bn.
The betting chain also said it enjoyed a “record-breaking World Cup performance” at the 2014 tournament in Brazil. Henderson said the company was competing effectively in its online international business as well as in its chain of UK shops.
“We are committed to working with the industry and the regulator to promote responsible gambling. We have put better tools in the hands of customers, increased awareness of the importance of responsible gambling and helped establish mechanisms for independent scrutiny of the industry.”
