Tabcorp showcases progress with positive full-year results

Australian gambling company Tabcorp has cited the impact of its multi-channel distribution strategy and a continued focus on customers, product and brands as the main reasons behind widespread year-on-year growth across key indicators during the 2015 financial year.

Group revenue amounted to just under Aus$2.2 billion (€1.5 billion/US$1.6 billion), which represents an increase of 5.7% on the previous year.

Earnings before interest, tax, deprecation and amortisation (EBITDA) jumped by 4.5% year-on-year to Aus$508.1 million, while earnings before interest and tax (EBIT) was also up 4% to Aus$334.6 million.

However, it was Tabcorp’s statutory net profit after tax that stood out in the 12-month period, with the company reporting that this figure was up 157.5% on the previous year to Aus$33.5 million.

Tabcorp cited its wagering and media business as the best performing division during the full-year, with revenue jumping 6.9% to Aus$1. 9 billion and EBIT up 5.6% to Aus$247.2 million.

Elsewhere, revenue from gaming services increased by 1.5% to Aus$99.6 million while EBIT grew by 4.8% to Aus$41.6 million.

However, Tabcorp did note losses within its keno operations, with this arm of the business experiencing a 2.4% drop in revenue to Aus$199 million, with EBIT also falling 8.1% year-on-year to Aus$47.5 million.

David Attenborough., managing director and chief executive of Tabcorp, said: “Tabcorp’s 2015 financial performance demonstrates the progress we have made in the delivery of our multi-channel distribution strategy and our focus on customers, products and brands.

“Wagering and Media achieved strong revenue and EBITDA growth in FY15, with customers responding to our integrated retail and digital offer.

“This business continues to lead the market on the back of our product and channel innovations.

“The Tabcorp Gaming Solutions business has been enhanced by extending a number of contracts and signing new venues in NSW and Victoria.

“Keno is undergoing a brand and product transformation, which commenced in June.

“Initial results have been pleasing and we are well placed to continue to benefit from investments we are making in the network.

“Our businesses generated more than Aus$1.2 billion in gambling taxes and racing industry funding in FY15, highlighting the value that Tabcorp’s operations provide to stakeholders.”

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