Tatts Group hails record lotteries performance as profit surges in 2015

Australian gambling company Tatts Group has cited a record performance by its lotteries division and an impressive showing by its online business as the main reasons behind a year-on-year increase in finances during the 12 months through to June 30.

Revenue and other income totalled Aus$2.9 billion (€1.9 billion/US$2.1 billion), up 1.8% on the amount posted in the previous year.

Earnings before interest, tax, depreciation and amortisation also jumped by 1.8% on a year-on-year basis to Aus$507.4 million, while earnings before interest and tax increased 1.4% to Aus$420.3 million.

Profit before tax hiked 12.1% to Aus$366.1 million, while net profit after tax in terms of continuing operations jumped 12.9% to Aus$255.8 million.

However, arguably the most impressive result for Tatts Group was statutory net profit after tax, which surged 25.7% on a year-on-year basis to Aus$252 million.

Considering the company’s full-year results, Tatts’ chief executive Robbie Cooke said that while the firm was boosted by the performance of lotteries division and online business, the relaunch of the UBET brand also contributed to growth.

“Our lotteries business booked a record profit result, our digital initiatives gained strong traction both in wagering and lotteries and, at the latter part of the year, this was sealed off with the successful relaunch of our wagering operation as UBET,” Cooke said.

“The momentum built in FY15 has continued onto the new financial year, kick-started with a strong run of lottery jackpots at the influential Aus$15 million threshold or more – with eight jackpots so far this year at that level compared with five last year.

“The list of initiatives and innovations for the current year is no less ambitious than that delivered in FY2015.”

Tatts Group also noted that it was able to pay out a total dividend of 16.5 cents per share, up 22.2% on the previous year.

source : www.igamingbusiness.com

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