The good news marks a turn around in fortunes for the company; 2005 had initially been a year that belonged to the punters with a long succession of winning bets forcing William Hill, along with Ladbrokes and Paddy Power, to issue profit warnings.

Fortunately for the betting giants it seems the punters luck ran out in December, when the run of winning favourites finally came to an end.

Since the announcement shares in William Hill have risen by up to 6.6 percent – from 535.5 to 568 pence.