The Lottery Corporation's Half Year Results Announcement

The Lottery Corporation Limited (ASX: $TLC) has released its Appendix 4D - Results for Announcement to the Market and Interim Financial Report for the half year ended 31 December 2023. The company reported a 25.7% increase in net profit after tax (NPAT) for the period, reaching $217.4 million. The interim ordinary dividend of 8.0 cents per share, fully franked, has been declared, consistent with the prior corresponding period.

Executive Commentary on 1H24 Results

The Directors of The Lottery Corporation presented their report for the half year ended 31 December 2023, highlighting the resilience of lotteries revenue and the increase in NPAT. The company's diversified portfolio and active portfolio and jackpot sequence management were noted as factors that helped moderate the impacts of softer economic conditions. The report also emphasized the steady digital share growth and the impact of the Powerball price change and retail commissions increase on lotteries revenue. Keno's strong retail performance in Queensland and NSW was highlighted, although Keno earnings were impacted by various factors including changes to fees paid by venue partners and an increase in operating expenses.

Summary of The Lottery Corporation's Half Year Results

The Lottery Corporation's half year results for the period ended 31 December 2023 demonstrated a 25.7% increase in net profit after tax, reaching $217.4 million. The company declared an interim ordinary dividend of 8.0 cents per share, fully franked, in line with the prior corresponding period. The report highlighted the resilience of lotteries revenue amid softer economic conditions and the impact of the Powerball price change and retail commissions increase. Keno's strong retail performance in Queensland and NSW was noted, although Keno earnings were impacted by various factors including changes to fees paid by venue partners and an increase in operating expenses. The company's Directors expressed confidence in the Group's performance and its ability to pay its debts as and when they become due and payable.