Tatts Group starts FY18 with a boost

Tatts Group starts FY18 with a boost

The first quarter of fiscal year 2018 has seen Tatts Group’s revenue boosted by a 6.8 percent thanks to strong lotteries jackpot results.

Australia.- Tatts Group revealed an improved performance for the first quarter of fiscal year 2018 (FY18) after strong results of its lotteries jackpots provoked a rise of 6.8 percent in revenue in comparison to the previous year. The operator introduced its latest filing on Tuesday and revealed revenues of up to US$565 million and recorded an increase of 14.8 percent in net profit after tax after reaching US$51.1 million.

According to the filing, the company managed to control its expenses and was rewarded with an overall rise in its finances, including EBITDA, which reached US$97.4 million after increasing by 9.6 percent since last year.

Furthermore, the company highlighted its strong results in its digital initiatives, with growing sales among lotteries and wagering businesses. Lotteries revenue was up 8.8 percent from first quarter of FY17, and Tatts’ three major draw games reported strong revenue growth. Tatts also explained digital sales growth for this product rose as well as they represented a 16.4 percent of total lotteries sales. Meanwhile, wagering businesses’ recorded an increase in turnover of 1.8 percent.

Tatts is set to complete its US$8.3 billion merger with Tabcorp by Christmas but already has many reasons for a toast before the end of the year.

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