From Tabcorp today:
The company told investors that overall group revenues were up 3.1 per cent to $503.9 million for the three months ending September 30, which was in line with its trading performance in the second half of last year.
Wagering continued revenue growth of 5.4 per cent on the back of ”continued strong growth in fixed odds and digital wagering”.
But Tabcorp said the ”softer retail consumer environment” negatively impacted on the performance of its Keno business which barely grew for the first quarter, the retail-only Trackside product which grew 2.2 per cent.
And from media executives:
THE rebound in television advertising that many expected after the federal election has not happened, with two of the three free-to-air TV bosses saying the ad market remains “very short”.
Mr Worner said the change of government had not been the ad revenue panacea many had thought it would be. “We haven’t seen the rebound we all thought was going to occur straight after the election,” he said. “We’ve got guidance in the market that’s low single digits for television, and I haven’t seen anything that would make us comfortable in departing from that view.”
He added that he felt “trepidation” about predicting the state of the ad market even for December, despite predictions the lead-up to this Christmas is expected to be stronger than in 2012.
Maybe I’ll be wrong on an improved Christmas.
