Strong FY 18 performance: Tabcorp Holdings Limited’s (ASX: TAH) stock surged 7.556% on August 08, 2018 (before market close) after the company for FY 18 reported 71% growth in the revenue to $3,828.7m. The company has posted 2018 NPAT of $28.7m, up from $20.8m loss in pcp. Moreover, TAH has completed combination with Tatts Group and the integration is on track. As a result, the company delivered $8m in FY 18, and the decisions taken underpin $50m in FY19 and the target is at least $130m in FY21.
The company during 2018 had exited loss-making businesses as Sun Bets exit was announced in July 2018 and Luxbet closure in December 2017. TAH in 2018 refinanced $1.8bn bridge loan into long-dated maturities in US market and declared full year dividend of 21.0 cps, including final dividend of 10.0 cps. Additionally, TAH had positive 2H18 performance, driven by Wagering & Media and Lotteries & Keno, which had accelerated digitalisation across the company, launched new products and renewed licences. Therefore, TAH stock has risen 5.63% in three months as on August 07, 2018.
FY 18 Financial Performance (Source: Company Reports)
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