British bookmaker Evoke (EVOK.L) has swung to an adjusted pre-tax profit in the first half of 2024, buoyed by cost-cutting measures and a robust performance in its international operations. The owner of William Hill UK and 888 posted a profit of £12.6 million for the six months ended June 30, compared to a £9.8 million loss a year earlier, with revenue rising 3% to £887.8 million. Shares rose 3.7% to 64.6 pence following the results.

The company has doubled down on expansion plans and operational efficiencies as part of its turnaround strategy, helping drive second-quarter momentum and a return to growth for its UK retail business. Evoke reiterated its full-year revenue growth forecast of 5%-9% and an adjusted core earnings margin of at least 20%, noting that third-quarter revenue so far is tracking in line with expectations. CEO Per Widerstrom said a strong product pipeline and efficiency initiatives give the group confidence in stronger growth during the second half.

Looking ahead, the bookmaker faces potential headwinds from possible tax increases in the UK’s autumn budget. The domestic market remains critical for Evoke, contributing about two-thirds of its total revenue in 2024. Despite the uncertainty, the company remains optimistic about sustaining its recovery trajectory through continued innovation and disciplined cost management.

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