Jumbo Interactive Ltd
(ASX:JIN) is expecting a significant increase in profit, driven by growing customer numbers and a good run of Jackpots.
Jumbo’s forecast is that it will earn $4.4 million in net profit at 30 June 2016. This is a 529% increase compared to last year’s results.
The company says the large increase in new customers is what's driving the growth in its Australian lottery business.
The company also says the increased profit forecast was due to a restructure in its Germany business, which reduced expenses by around $1 million.
Jumbo reported a net profit of $2.03 million at 31 December 2015.
