The Lottery Corporation shares surge as FY25 result tops estimates
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More news: The Lottery Corporation saw its shares rocket after its net profit and dividend beat market forecasts for the 2025 financial year.
Shares were up 8.5% to $5.74 at 12:20pm AEST, taking gains to 16.6% since the turn of the year.
The Lottery Corporation records 12% fall in full-year profit but boosts dividend
The news: The Lottery Corporation reported full-year net profit of $365.5 million, down 11.7% from $414 million in FY24, but raised its dividend to the top end of its target payout range.
The numbers: Analysts had expected a net profit of $356.44 million, according to Visible Alpha data.
Revenue fell 6.2% year on year to $3.7 billion, in line with consensus estimates.
The group declared a full-year dividend of 16.5 cents per share, up 3.1% from last year's payout of 16 cents per share. Analysts had expected the dividend to be flat year on year.
The context: Managing director and CEO Sue van der Merwe said "the defensive characteristics of lotteries were evident" during the year, with "customer participation remaining healthy, even as players sought value in a challenging economic environment".
She said the company made targeted investments in its game portfolio, distribution channels and customer experience during the year. It also kept operating expenditure lower than its guided range, she noted, while managing the impacts of separation and inflationary headwinds.
The source: ASX
