Lottery Corp shares edge higher as FY result beats forecasts
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The news: Shares in The Lottery Corporation edged higher on the ASX after it notched double-digit revenue and EBITDA growth in the 2024 financial year.
The numbers: The company's full-year revenue increased 14% year on year to $3.997 billion, above average forecasts of $3.974 billion.
Group EBITDA before significant items totalled $827.1, up 16% compared to FY23 and above consensus estimates of $824 million. Adjusted net profit after tax of $412 million beat average expectations of $408 million by 1%.
Lottery Corporation declared a total dividend of 18.5 cents per share, including a 2.5 cent special dividend, compared with consensus expectations of 17 cents.
Shares added 0.41% to $4.94 by 1:10pm AEST.
The context: Lottery Corporation said the result was delivered in a "challenging inflationary environment" with weak consumer spending. The company said proactive initiatives continued to deliver a compelling customer experience, with "very health participation levels".
The performance was supported by a strong run of big jackpots that drove customer interest, the company said, with a $90 million Oz Lotto jackpot and a record $200 million and two $150 million Powerball jackpots.
The source: ASX announcement
