Tatts Group Profit $128.3m, down 23% 1H2013

Gambling services provider Tatts Group (ASX:TTS) have released its first half results to shareholders.

• Tatts Group Net Profit $128.3 million, down 23.1 percent from $166.9 million from the previous corresponding.
• Interim dividend 8 cents per share, fully franked, down from 11 cents.
• TTS Revenue down 13.5 per cent to $1.71 billion from $1.97 billion
• Tatts managing director Robbie Cooke said, "Whilst our headline reported profit has reduced on a same half basis – this should not come as a surprise given the well understood closure of our Victorian Tatts Pokies business following the expiry of the licence underpinning that business. The group's lotteries operation has had a good start to the second half benefiting in particular from the contribution of SA Lotteries. The revenue lift from this acquisition will be partially offset by higher interest costs as noted above. In considering the likely second half performance of the lotteries operation it would be unreasonable to expect a similar jackpot run to the exceptional levels experienced in the first half."
• Record Oz Lotto first division prize pool of $112 million held on Melbourne Cup day boosted lottery revenues.
• 21 jackpots at above $15 million, compared to nine in the previous period