Jumbo Interactive sales soar 21 percent despite lower jackpot levels
It's been a record second half sales period for Australian online lottery specialist Jumbo Interactive, which this week reported record H2-2014 sales, up 21 percent to A$66 million despite lower jackpot levels.
Revenues in the six months ended December 31 were up 16 percent and reached A$14.3 million, and net profit before tax rose to A$800,000.
NPAT (net profit after tax) came in at A$20,000
CEO Mike Veverka commented: "21 percent growth in total transaction value to a record $66 million clearly demonstrates continuing customer demand and acceptance of Jumbo's online lottery service."
The company suffered some setbacks during the half year; German operations have progressed slower than expected, a situation the company attributes to limited interactive marketing channels, in particular Facebook, and a lack of legislation to curb offshore unlicensed websites selling German lotteries.
Jumbo cut spending on German initiatives as a consequence, and will await changes that can evolve into a more sustainable market, says Ververka, who added:
"A significant opportunity exists in Germany however caution must be exercised during the early phase of the industry's development. Losses in Germany have not reduced the effective income tax expense for the Group."
Online Casino News Courtesy of Infopowa