Tabcorp NPAT up 157.5 percent in FY15

Tabcorp reported net profit after tax of A$334.5 million ($246 million) for the full year, up 157.5 percent on the prior corresponding period, driven by its Fixed Odds and Digital Wagering business.

Earnings per share rose to 42.5 cents per share, up 146.5 percent, while EBITDA before significant items rose 4.5 percent to $508.1 million.

Fixed Odds and Digital Wagering were again the strongest contributors in FY15, supported by major events such as the football World Cup, the company said.

TAB Racing revenues were $1.66 billion, up 5.1 percent, and TAB Sports revenues were $219.2 million, up 16.2 percent.

“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,” said CEO David Attenborough.

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

The company generated more than $1.2 billion in gambling taxes and racing industry funding in FY15.

The company announced recently that had ended its broadcast stand-off with race track operator Racing Victoria, following months of deadlock negotiations regarding distribution rights.

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