Tatts Group Limited
(ASX:TTS) says it has a strong outlook for the second quarter but has warned the betting sector is highly competitive.
Addressing shareholders at the company's annual general meeting, chief executive officer Robbie Cooke didn’t offer profit guidance for fiscal 2014, but said the group plans to lift its marketing and product development to drive future growth.
He reported a 23 per cent lift in after tax profits from continuing operations in the first quarter.
Mr Cooke says the second quarter will benefit from an initial year's uplift from SA Lotteries, which joined the group in December 2012 and was not reflected in that quarter's results.
Tatts delivered a net profit of $247.3 million in fiscal 2013.
