Lotteries and wagering firm Tatts Group says it has had a positive start to trading in the 2013/14 financial year.
"We have had a very positive start to FY14, with the first quarter producing a 23 per cent lift in after-tax profits from our continuing operations when compared with those same operations in the corresponding period last year," Tatts chief executive Robbie Cooke said on Thursday.
He told shareholders at the company's annual general meeting that the outlook for the second quarter was positive.
But the lotteries business would likely not have the same exceptional run of jackpots experienced in October and November of 2012.
The second quarter would benefit from the contribution of SA Lotteries, which Tatts acquired in mid-December 2012, and made no contribution to revenue in the prior corresponding period.
The wagering environment would remain highly competitive and trading was likely to reflect this for the rest of the year, Mr Cooke said.
"Our intention is to lift our marketing, both traditional and online, and product development activities in our wagering operations in the second quarter and beyond as part of our strategy for re-energising our wagering franchise," he said.
Mr Cooke also said that Tatts' mobile lottery app, which was launched in August, had been embraced by customers and had been downloaded on more than 65,000 devices.
Shares in Tatts gained four cents to $3.14.
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