Jumbo Interactive on Track for Record Profit

Strong sales from a growing customer database and a recent run of large jackpots have prompted a profit upgrade from leading interactive lottery business Jumbo Interactive.

The ASX listed company told the market this week that its full year Net Profit After Tax guidance would be in the range of $5.9 million to $6.2 million, an increase of between 23 and 29 percent on the previous year.

This puts the company on track for a record full year profit, improving on last year’s $4.8 million net result.

Revenue is also forecast to be significantly higher at between $94 and $98 million, up between 24 and 29 percent.

Mike Verveka, Jumo Interactive CEO, told the ASX that the company had a growing customer database, which recently exceeded 1 million accounts.

The recent $50 million OzLotto jackpot drove sales during April, and the growth is expected to continue with the $70 million May jackpot.

Other recent developments for Jumbo Interactive include internet-based agreements with the Tatts Group, NSW Lotteries Corporation and SA Lotteries.

Jumbo has also increased its efforts in international markets and is a major sponsor this week of the APLA (Asia Pacific Lottery Association) conference in Hanoi, Vietnam.

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To view the Jumbo Interactive profile page, click here.

To view their recent investor presentation from the Capital Expo in Brisbane, click here.