LONDON: Tatts Group says its gaming and lotteries divisions are tracking above last year after a first quarter in which revenue at the UK pokies business Talarius soared 29.7 per cent.
Chief executive Robbie Cooke said all three gaming units were outpacing their performance in the prior corresponding quarter, while only first divisions pools slipped among its lotteries operations.
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In the company’s third division, wagering, Mr Cooke said Tatts had seen turnover return to growth for the period, up 3.6 per cent, although it was still “early days”.
In terms of trading performance we have had a solid start to the year,” he said.
The company said its earnings before interest, tax, depreciation and amortisation margin had sunk from an average 24.3 per cent in fiscal 2014 to 23.4 per cent in the first quarter, but was still within the company’s targeted range.
But Mr Cooke noted the fist-half margin last year was significantly higher due to the timing lag between the introduction of the new fiscal arrangements in Queensland and associated additional spending.
Tatts in August posted a net profit of $252 million for the year ended June 30, a 25.7 per cent increase on the previous corresponding period.
