Tabcorp has endured a "challenging" year, according to the company's chairman John Story.
The Australian company reported a net profit after tax of AU$521.7m for the year to June 30, compared with a net loss of $164.4m during the previous year. On a normalised basis, revenues increased by 5.6 per cent thanks to solid growth in gaming, the recovery from equine influenza in wagering and an improved revenue performance in the company’s casinos division.
“It has been a difficult and challenging year for Tabcorp, having regard to both the economic conditions and the regulatory environment,” Story said. “In these circumstances, a marginal increase in the normalised profits is a sound result.”
