Tabcorp Y14 net profits up 2.6 percent

    Tabcorp Holdings Limited announced a net profit of A$129.9 million, up 2.6 percent on the prior corresponding period in a stock filing earlier today.
    The company declared a statutory Net Profit After Tax (NPAT) from continuing operations before significant items of A$149.4million, up 7.4 percent while loss after tax from discontinued operations (Health Benefit Levy expense) was A$19.5million. Statutory Earnings Per Share (EPS) was A$17.2 cents per share.
    A full year dividend of 16 cents per share fully franked was announced, with a target dividend payout ratio to increase to 90 percent of NPAT for FY15. Tabcorp’s EBITDA from continuing operations before significant items was $486.1 million, up 4.8 percent; revenues were up A$2,039.8 million, or 1.8 percent while operating expenses reached A$433.4million, up 2.8 percent.
    “The Group’s performance in FY14 demonstrates the benefits of being diversified across four businesses, with market-leading brands and a unique multi-product, multi- channel distribution model,” managing director and CEO, David Attenborough stated in the filing.