Tabcorp’s improvement program delivers results

Tuesday 16th of September 2014

Australian gambling and entertainment operator Tabcorp lifted its net profit after tax by 2.6 percent to AUD129.9 million ($116 million) on turnover of AUD2.04 billion ($1.83 billion), its just released annual report shows. EBITDA was AUD486.1 million ($438 million) up 4.8 percent. The company is paying a 16 cents per share fully franked dividend.

In her review of the year chairman Paula J Dwyer said Tabcorp had consolidated its position to be the market leader in its four business areas: Wagering, Media and International, Gaming Services and Keno.

“During the year under review our portfolio of long-dated licenses was strengthened with the extension of our Queensland Keno license to 2047 and NSW retail wagering exclusivity to 2033. These extensions have removed some of the risk associated with our businesses and allow us to invest with confidence for the longer term.”

Dwyer said that the company was well positioned for future growth and was now focusing on improving the customer experience. “We continue to execute our strategy of investing in innovation in high-growth areas such as our digital platforms and capability, the expansion of TGS and new Keno products, while targeting faultless execution in each customer interaction. This will underpin our goal to deliver sustainable, attractive returns to shareholders.”

Chief executive and managing director David RH Attenborough says the company’s performance also benefited from an ongoing group-wide productivity improvement program, called Future Fit, which is “focused on improving our operating processes and optimising the allocation of resources to our growth areas.”