Bookmaker William Hill has written down the value of its betting shops in the Republic of Ireland by just over £8m (€9.2m).

It blamed this on weak trading conditions. William Hill close 14 betting shops in the Republic during 2009 and says it is 'reviewing' the remaining 35.

Overall, the bookmaker reported pre-tax profits of £120.9m for last year, a drop of almost 60% from 2008.

When once-off charges were stripped out, underlying pre-tax profits dropped by just 9% to £197.5m. The bookmaker's net revenue rose 4% to just under £998m, boosted by a 63% jump at its online betting arm.

William Hill described its performance as 'solid' in a year of tough economic conditions and 'significant volatility' on sports results.