Declines in Revenues at Jumbo Interactive

Monday August 25,2014 :  AUSSIE ONLINE LOTTERY COMPANY PROFITS DIP
 
Jumbo Interactive reports lower jackpot activity.
 
Jumbo Interactive, an Australian publicly listed company whose core activity is international online lottery operations, has reported declines in revenue and profits which it attributes to lower jackpot activity.
 
Posting its FY results to end June, Jumbo reported y-o-y revenues down 4.2 percent at A$24.13 million, and profits after tax of $2.78 million, a decline of 6.6 percent.
 
Start-up costs in the German market and the on-going development of operations in Mexico, which have yielded negligible income during the year, undercut company savings through cost-cutting