Tabcorp’s 1HY19 profit soars following Tatts takeover

Company News

by Anna Napoli

Tabcorp (ASX:TAH) has reported its net profit after tax (NPAT) increased to $183 million up from $25 million in the previous corresponding period.

The half year result was positively impacted by the full integration of the Tatts Group.

Revenue strengthened over the six month period, rising 108 per cent on the same time last year to $2.8 billion.

Its earnings before interest and tax (EBIT) (from continuing operations) was $378 million up from $209 million in the prior corresponding period.

The company declared an interim dividend of 11 cents per share fully franked.

The company says it as delivered a strong result on the back of the diversification benefits from the combination with Tatts.

In a separate announcement the company has announced the retirement of CFO Damien Johnston.

Shares in Tabcorp (ASX:TAH) are trading 1.47 per cent lower to $4.70.