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* Sporting results at end of year hurt bookmaker
* Company is seeking new chief executive
* William Hill has missed out on M&A (Adds shares, details)
By Rahul B
Jan 9 (Reuters) - British bookmaker William Hill Plc said annual operating profit would fall to 260 million pounds($316.7 million), the bottom of its forecast range, blaming"customer friendly" horse racing and soccer results in December.
The decline in earnings is another blow to the gamblingcompany as it searches for a new chief executive and after anumber of rivals joined forces to increase competition in thesector.
Shares in the company fell more than 3 percent to 288.3pence. As recently as November 14 the company had forecast thatoperating profit would be at the higher end of the 260-280million pound range.
William Hill had reported operating profit of 291.4 millionpounds for 2015.
Interim Chief Executive Philip Bowcock said unfavourablesporting results at the end of the year had wiped 20 millionpounds off the profit figure.
"The recent run of sporting results have not changed ourconfidence in a better performance in 2017," he added in atrading statement for the 52 weeks to Dec. 27, 2016.
On the busy Boxing Day English soccer programme, 18 of the20 best-backed teams won. One gambler turned a 20 pounds stakeinto 103,000 pounds after backing 11 teams to win - the biggestaccumulator win of the season so far.
MISSING OUT
William Hill, which operates around 2,370 betting shops, hasbeen struggling to keep up with rivals in online gambling andthe board lost patience with chief executive James Hendersonlast July after two years in the job.
The company declined to comment on Monday on the process ofappointing a new chief executive.
It has also missed out on a round of consolidation which hasseen European rivals Paddy Power and Betfair joinforces, while Ladbrokes merged with Gala Coral.
William Hill pulled out of merger talks with Canadian onlinegambling company Amaya Inc in October. It also rejecteda takeover approach from smaller rivals 888 and RankGroup last year.
It will report its full annual financial results on Feb. 24. ($1 = 0.8209 pounds) (Reporting by Rahul B in Bengaluru; editing by JasonNeely/Keith Weir)
