Lotteries and wagering firm Tatts Group has lifted its half year profit and says the second half of the financial year has got off to a strong start.
Tatts made a net profit of $122 million in the six months to December 31, up 12 per cent on the profit it made from its continuing operations in the same period a year earlier.
Tatts' Victorian poker machine operations ended during the same period a year earlier, and its comparison excludes profit from that business.
The company had higher earnings from its lotteries business in the first half of the 2013/14 year, but lower earnings from sports and race betting due to strong competition.
In response, Tatts has begun a new marketing campaign, is upgrading its retail outlets and developing a new website.
Tatts said its lotteries revenue for January was up by seven per cent, and turnover in wagering was also stronger.
Its shares were down half a cent at $3.025 at 1305 AEDT.
