Solid half-year for Australian land and online gambling group

Australian land and online gambling giant Tatts Group has reported on its fiscal second quarter results, posting a 6.2 percent rise in NPAT (net profit after tax) to AU$147.9 million, thanks mainly to good results from its online wagering and lottery units.

Highlights reported by the group included:

* Revenue up 6.5 percent to A$1.6 billion;

* Online lotteries revenue up 9.6 percent to AU$1.11 billion with a 35 percent growth rate;

* Double-digit growth in the new UBet brand at over 50 wagering points;

* Wagering division turnover up 3 percent to A$2.14 billion, although revenue was down 4 percent at A$326 million;

* 29 percent of wagering sales now generated online;

* Tatts Group websites attracted an average 3.5 million visits per month, and the company’s apps have been downloaded to over 1 million mobile devices, a very substantial rise from the previous year;

* Digital wagering sales up 20.2 percent;

* Interim dividend of 9.5 cents a share has been decided.

Chief executive officer Robbie Cooke said in a statement: “The momentum we are gaining from these digital initiatives in both our lotteries and wagering operations is truly exciting.”

Giving a trading update, Cooke revealed that the first six seeks of the second quarter had delivered strong performances all round.