SYDNEY, Aug 4 (Reuters) - Australia's largest wagering company Tabcorp (TAH) on Thursday posted a 49 percent plunge in annual net profit to A$169.7 million ($129.21 million) due partly to legal expenses and costs associated with its push into the British market.
The company said it had spent A$14.4 million ($10.96 million) setting up online wagering and gaming business Sun Bets with News Corp's
British arm. Sun Bets launched this week ahead of the English Premier League season. Operating expenses rose 2.2 percent in 2015-16 to A$378 million. In addition, the company spent A$13.6 million defending allegations by Australia's anti-money laundering agency that it had failed to take sufficient precautions against money laundering and terrorism financing.
Revenue climbed 1.5 percent to A$2.19 billion.
($1 = 1.3134 Australian dollars)
News: Australia's Tabcorp posts profit plunge after UK gambling push
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Last
72.0¢ |
Change
-0.005(0.69%) |
Mkt cap ! $1.646B | |||
| Open | High | Low | Value | Volume |
| 72.0¢ | 72.5¢ | 71.5¢ | $2.572M | 3.575M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 80104 | 71.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.0¢ | 1304 | 1 |
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| TAH (ASX) Chart |