• NET PROFIT AFTER TAX UP 185% TO $3.3 MILLION.
• REVENUE UP 11% TO $40 MILLION.
• CONTINUING INTERNET LOTTERY BUSINESS DELIVERED NPAT $2.3 MILLION FROM REVENUE $36 MILLION.
Leading Australian Internet lottery company, Jumbo Interactive Limited (ASX: “JIN”), today announced a 185% increase in Net Profit after tax to $3.3 million and a 11% increase in Revenue to $40 million for the half-year to December 2010.
The result includes losses from the software distribution business currently in the process of voluntary administration as well as a once-off profit of $1.7 million from the sale of Star System Solutions in November 2010. This was part of efforts to refocus resources onto the stronger Internet lottery business.
The continuing Internet Lottery business delivered a Net Profit after tax of $2.3 million from Revenue $36 million.
The result is a vast improvement on the FY10 result which was a loss after tax of $7.3 million due primarily to a once-off write down in the value of the underperforming software distribution business. Directors expect that a FY11 profit guidance will be able to be released following the outcome of the Voluntary Administration process on the software distribution subsidiary.
For further information:
CEO and Executive Director
Ph: 07 3831 3705