Tabcorp release details of their AGM

Company News

by Rachael Jones

Tabcorp (ASX:TAH) noted their statutory profit after tax of $28.7 million, at their AGM today, impacted by significant items after tax of $217 million, principally associated with the Tatts combination, Sun Bets exit and Luxbet closure.

The results include Tatts contributions from 14 December 2017, as shown in the year-on-year growth rates.

The Group delivered a strong second half performance, particularly in the Lotteries & Keno and Wagering & Media business divisions.

During the year, Tabcorp successfully refinanced the $1.8 billion bridge facility taken out to fund the Tatts combination.

Their chairman's address released today noted that there had been significant regulatory change in the gambling sector during financial year 2018.

Shares in Tabcorp (ASX:TAH) are trading 0.86 per cent higher to $4.68
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.