William Hill
William Hill says it is well-placed to drive its business forward in 2017 PA

Bookmaker William Hill has reported flat revenues and profits for 2016, in line with expectations.

Profit before interest and tax for the 12 months to 27 December was £225.6m ($283.1m), against a £224.3m profit in the prior reporting period.

William Hill was hit by unfavourable wagering and margin terms at the Cheltenham Festival in March and "significant losses" in football in the final weeks of the year.

This was offset by favourable sporting results in the Euro 2016 football tournament.

Interim chief executive Philip Bowcock said the company was well-placed to drive revenue growth in 2017.

"We have delivered extensive product, user experience and marketing improvements in online, modernised our retail management structure to focus more on the customer and continued to grow in our key international markets," he said.

"There are now encouraging signs in all our divisions, in particular online's UK business, which is now delivering sustained growth."

William Hill said its net revenue increased by 1% to £1.6bn.