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UPDATE 1-Australia's Tatts Q1 profit climbs as lotteries revenue rises
November 28, 2017 / 12:00 AM / 20 days ago

UPDATE 1-Australia's Tatts Q1 profit climbs as lotteries revenue rises

(Adds lotteries segment performance, share movement, background)

Nov 28 (Reuters) - Australian lottery operator Tatts Group Ltd on Tuesday posted a 15 percent rise in first-quarter net profit from continuing operations, driven by strong sales from its lotteries business and controls on expenses.

Tatts said net profit from continuing operations rose to A$67.2 million ($51.1 million), while quarterly revenue rose 7 percent to A$743.1 million.

Revenue from its lotteries arm rose nearly 9 percent thanks to strong performance from Saturday Lotto, Powerball and Oz Lotto.

In the wagering division, Tatts posted a 2 percent rise in first-quarter turnover and said digital sales continued to grow strongly.

Shares of the lottery operator were up 0.1 percent in early trade, in line with the benchmark index

In August, Tatts said full-year 2017 net profit after tax fell 5.7 percent to A$220.5 million

$1 = 1.3153 Australian dollars Reporting by Chandini Monnappa in Bengaluru; Editing by Richard Pullin and Stephen Coates

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