News: Tabcorp H1 profit down after demerger

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Tabcorp Holdings Limited (ASX:TAH) has reported a lower net profit but a higher underlying profit in the first half of the 2012 financial year.

The gaming company’s net profit dropped 28.7 per cent to $189 million, impacted by the demerger of its casino business into Echo Entertainment Group Limited (ASX:EGP).

In the last six months of 2011 Tabcorp’s underlying profit grew 14.1 per cent, boosted by growth in all four of its divisions. 

Tabcorp says each of its businesses is performing well despite the economic uncertainty and challenges experienced by retailers.



A fully-franked interim dividend of 13 cents per share has been declared.

In the 2011 financial year Tabcorp Holdings improved its net profit by 14 per cent to $535 million.