Australian Online Lottery Firm Reports H1-2016 Results

Revenues and turnover down year-on-year but profit stable

The Australian online lottery company Jumbo Interactive, which among other enterprises operates Ozlotteries .com under agreements with the Tatts Group, has reported on its expected performance in H1-2016; the six months ending December 31 this year, reporting that despite declining revenues its profit remains stable.
Highlights on the interim include:
* Net Profit After Tax of A$2 million – about the same as the corresponding period in 2015;
* Revenue down 14 percent at A$15.3 million;
* Total transactions at A$68 million – down 16 percent.
CEO Mike Veverka reported:
"A very low run of jackpots in this half has impacted Jumbo's total transaction value and revenue, however Net Profit After Tax is expected to be in line with the previous comparative period, and a higher dividend compared to the December 2015 half year is planned.
"Charity Lotteries are performing well and Jumbo is well placed for an improved second half should jackpots return to normal levels".

Online Casino News Courtesy of Infopowa