Veikkaus boosted by product innovations in first half

Finnish national lottery operator Veikkaus has cited the impact of its various product innovations as the main reason behind a significant year-on-year jump in net sales during the six months through to June 30, 2014.

Net sales for the first half of the year amounted to €978 million ($1.3 billion), which represents an increase of 6.7% on the corresponding period in the previous year.

This growth was driven by an increase in turnover generated by the firm’s online and mobile operations, which jumped 20% from last year to €395.5 million in the first half of this year.

Veikkaus’s online and mobile operations now account for more than 40% of the firm’s total turnover.

Growth was also boosted by an impressive performance by Veikkaus in the second quarter, a period in which it reported an increase in net sales in all groups of the game.

Veikkaus also reported that its spring and summer games reforms were successful and, with further reforms set to take place in autumn, it anticipates further growth during the second half of the year.

Juha Koponen, chief executive officer of Veikkaus, said: “Veikkaus’s second quarter was successful. We were able to offset the economic slowdown and weak consumer demand effects through continuous development, customer orientation and cost efficiency.”

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