Tabcorp’s Share Price Drops Another 1.37%

This morning Tabcorp Holdings Ltd [ASX:TAH] share price slightly dipped, by 1.37%.

They are now trading at $4.66 a share, down from last month’s $5.11 a share.

Their statutory profit is down 58% from the previous year, as they reported a $24.6 million statutory profit for the last half of 2017.

Results for Tabcorp steer towards a negative state, as underlying profit stands 20% lower than the figure from the previous year.

A 4% increase in operating expenses for Wagering and Media Tabcorp’s core businesses, resulted in poor figures.

Tabcorp is also facing tough foreign competition in the online betting platform.

Tabcorp’s recent merge

Tabcorp and Tatts merge last year in December resulted in a conversion of shares.

Tabcorp plans to reshape itself in order to compete in the constantly changing gambling terrain. By merging with Tatts they are able to widen their operations.

They are primarily focused on improving overall business benefits with the strengths of the combined group.

Tabcorp expects their combination venture with Tatts to deliver around $130 million in earnings for the first full year after the merge, which is aimed to take around two years.

Regards,

Ryan Clarkson-Ledward,
For Markets & Money

PS: A self-managed super fund can hold a large variety of benefits, but knowing if it’s right for you is half the battle. Check out Markets & Money editor Vern Gowdie’s free report ‘How to Know if a Self-Managed Super Fund is Right For You’.


Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:


Leave a Reply

Your email address will not be published. Required fields are marked *

Markets and Money