News: TAH Tabcorp records about 50 pct decline in FY net profit

Aug 4 (Reuters) - Tabcorp Holdings Ltd (TAH) :

• Appendix 4e, FY 2016 media release and annual report 2016 (TAH)
• FY net profit attributable to members $169.7 million versus $334.5 million
• FY revenue from ordinary activities $2.19 billion versus $2.16 billion a year ago
• Board has announced a final dividend of 12 cents per share, fully franked
• FY17 dividend target is greater of 90% of npat before significant items and amortisation of victorian wagering and betting licence or 24 cents per share
• In FY 2017, Tabcorp expects variable contribution margin for Sun Bets of approximately 20% and operating expenses of approximately $25 million
• FY 2017 opex/revenue ratio is expected to be approximately 22%
• FY 2017 depreciation and amortisation expense is expected to be approximately $185 million
• Target is to achieve 14% return on invested capital in FY 2017"