Tabcorp Holdings Limited
(ASX:TAH) has posted a lift in first-quarter revenue despite warning of tough external conditions.
Tabcorp says group revenue for the first quarter of fiscal 2014 rose by 3.1 per cent to $503.9 million, compared with $488.9 million in the first quarter of fiscal 2013.
Tabcorp chief executive officer David Attenborough says the revenue growth demonstrates the resilience of Tabcorp's businesses in tough external trading conditions.
Wagering revenue was $385 million in the quarter, a 0.1 per cent rise compared with $384.6 million in the previous corresponding period.
Tabcorp says this business will be impacted by the Victorian Wagering and Betting Licence terms which commenced in August, 2012.
Tabcorp generated a net profit of $126.6 million in fiscal 2013.
