Profit Upgrade - May 2005

May 9, 2005

ASX RELEASE – Thursday 19th May 2005

Directors are pleased to announce that unaudited management accounts for Jumbo Corporation Limited (JUM) show a NPAT (Net Profit After Tax) of $431,000 for the 9 months ending March 2005. This represents a 98% increase over the corresponding 9 month period in the previous year and already is well ahead of JUM’s NPAT for all of the 2003-2004 financial year.

 

ACQUISITION OF TMS GLOBAL SERVICES PTY LTD As per our ASX release on 18th  May 2005, the shareholders of JUM have approved the issue of shares to enable JUM to close on the acquisition of TMS on Monday 23rd May 2005. Unaudited management accounts show that TMS is trading ahead of expectations with a NPAT of $846,000 for the 9 months ending March 2005 compared to $764,000 for the full year FY04.
The results are summarised below.  
Jumbo Corporation Ltd 12 months to June 2004 9 months to March 2005

Change over corresponding 9 month period

Total Transaction Value $28,796,000 $25,937,000 20% up
EBITDA $400,033 $504,000 68% up
NPAT $289,705 $431,000 98% up
   
TMS Global Services Pty Ltd 12 months to June 2004 9 months to March 2005

Change over corresponding 9 month period

Total Transaction Value $19,000,000 $13,400,000 6% down
EBITDA $924,000 $1,067,000 54% up
NPAT $764,000 $846,000 48% up
  TMS Global Services Pty Ltd is a wholesaler and online retailer of lottery products through agreements with Tattersall’s (Victoria) and the NSW Lotteries Corporation. The company retails popular lotteries such as Saturday Lotto, Powerball and OzLotto via its website at www.ozlotteries.com. As well as the online lottery business TMS supports a private network of lottery outlets in various Pacific Islands including Fiji, Cook Islands and Norfolk Island. This network was established in the 1990’s and allows traditional retailers to sell Australian lottery products.   APPOINTMENT OF ADDITIONAL DIRECTOR - MR DAVID DE CAMPO In line with JUM’s rapidly growing gaming interests and following the closing of the TMS acquisition on Monday 23rd May 2005, the company proposes to invite Mr David DeCampo, the current Chairman and CEO of TMS, to join the board and to undertake an executive role responsible for the management and development of the companies online gaming businesses. Mr DeCampo is formerly a Chairman and Director of Canbet (ASX:CBT) for 4 years as well as several other directorships of public and private companies. Prior to that, he has held senior management roles in large telecommunications companies including Lucent, Hewlett Packard and Telstra.

The acquisition of TMS Global Services Pty Ltd will potentially open further opportunities for JUM on a global scale and enhance JUM’s reputation as one of Australia’s fastest growing online e-commerce and retailing companies.   For further information, please contact: Mike Veverka, CEO Email: mike@jumbocorporation.com Web: www.jumbocorporation.com


Media Assets
 19052005.pdf