Jumbo Interactive 2013 Annual Report Release
Aug 29, 2013
Please note this supersedes the incorrect AGM details provided in the announcement dated 22 August 2013 During the 2013 financial year, Jumbo made the leap from a domestic business into an international business following licenses and agreements in Germany and Mexico.
Early estimates anticipate that these markets will begin contributing profits to the group within two to three years after the websites ‘go live’ and will incur $2 million to $3 million in accumulated losses over this time per jurisdiction.
Trading profits and cash reserves ($16.9 million at 30 June, 2013) will be used to fund this expansion. 2013 was also the Company’s 13th year of continued growth with Total Transaction Value (TTV) reaching a record $109 million.