Jumbo Interactive H1 results beat company guidance but drop from prior year

    Jumbo Interactive said its first-half profit has beaten its internal guidance, but has fallen from the year-ago period, partly because of last year’s record $112 million OzLotto jackpot during the Melbourne Cup. Revenue fell to $12.3 million from $13.4 million in the year-ago half. The company had given revenue guidance of $11 million to $12 million. Net profit after tax fell to $1.8 million, above guidance for $1.3-$1.6 million, but below the $2.5 million reported in the previous half. The company also said this half’s performance was affected by the timing of the $30 million New Year’s Eve Megadraw, which will be booked in the second half. Jumbo said its new German website has now gone live and growth in that market is forecast to outpace Australia.