Saturday, June 25, 2022

Tatts Group net profit up 14.6 percent

Australia’s Tatts Group reported a 14.6 percent increase in half-year net profit after tax following strong digital sales, the company announced.

The company’s net profit after tax came to $139.8 million generated from revenues of $1.51 billion, up 1.2 percent on the first six months of the 2014 financial year.

The company’s online lottery increased 18.4 percent and accounting for 10.8 percent of all sales. Wagering sales went up 12.9 percent and account for 24.8 percent of total sales.

“Excellent progress in driving digital sales in its lotteries and wagering divisions was a highlight for the Group. Lotteries led the charge with an impressive 18.4% lift in online sales, with this channel now delivering 10.8% of Tatts’ lotteries sales,” the company said in a statement.

“Record lotteries earning despite lower jackpot levels and the momentum in our online sales are the standouts in our performance this half. Clearly, capturing the benefit of our cash position following the pokies compensation win and leveraging the interest rate cycle were particularly significant contributors to today’s result,” said Tatts CEO Robbie Cooke.


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