Tatts confident of positive full-year performance

Australian gaming company Tatts has reported a slight fall in net profit in the six months through to December 31, but remains confident of its full-year results, according to the Australian newspaper.

The report said that Tatts generated a net profit from ordinary activities of Aus$121.97 million (€79.7 million/$109.4 million) – a 5% fall from Aus$128.32 million in the corresponding period of 2012. However, the figures excluded revenue from Tatts’ now-discontinued Victorian operations.

On a continuing activity basis, net profit rose by 12.2% thanks to record earnings from lotteries, increasing online demand, better cost control and lower interest expenses.

Total sales fell by 12.7% from Aus$1.708 billion to Aus$1.491 billion, but revenue on a continuing activity basis fell by only 3.5%.

Tatts added that its lotteries revenue for January 2014 was up by 7% year-on-year, giving the company confidence of achieving positive full-year results.

source : www.igamingbusiness.com

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