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Jumbo Interactive releases strong result and shares pop 10% on the open

Proactive Investors Friday, 15 February 2019
Jumbo Interactive Ltd (ASX:JIN) has increased all of its key metrics of total transaction value (TTV), revenue, and net profit after tax (NPAT) for the December half. TTV increased 66% to $147.8 million, revenue increased 58% to $30.5 million, and NPAT increased 140% to $12.7 million on the prior December half period. Important, the company also updated its FY19 outlook based on the December half performance and estimated large jackpot activity for the current June half. Proactive spoke with Jumbo's CEO Mike Veverka in September 2018 at the ASX Small and Mid-Cap Conference in Sydney. Listed on the ASX since 1999 In 2000, Jumbo sold its first lottery ticket on the internet and witnessed a dramatic rise in popularity due to the convenience of buying tickets online. Customers were initially attracted to the security of never losing a ticket and the convenience of automatic number checking, prize payments and auto-play. In 2012, Jumbo released a lottery app for the iPhone and a new transition began driven by the convenience of mobile lotteries. This was followed by further innovations such as features for the Apple watch, Google Voice and most recently, Lotto Party which is designed to promote social group play of the lottery, appealing to both younger and older demographics. Jumbo operates the popular website in Australia under agreements with Tabcorp (ASX:TAH). Using technology and internet marketing effectively Jumbo has proven its ability to open up new lottery markets with its technology and internet marketing initiatives that have brought lotteries to new demographics via the internet.      

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