Zeal boosted by new products as key financials rise
Zeal Group has paid tribute to the impact new products have had on the business after it reported year-on-year growth across key financials in the first quarter.
Statutory revenue in the three months through to March 31 amounted to €38.7m ($46.3m), up from €23.6m in the corresponding period last year.
Billings increased by 6.4% year-on-year from €68.4m to €72.8m, while statutory earnings before interest and tax also improved from €200,000 to €9.2m.
Elsewhere, Zeal noted that total operating performance was up from €24.1m to €39.8m due to a reduction in exceptional prize pay-outs, which dropped from €15m in Q1 of 2017 to zero in the most recent quarter.
Earnings per share at Zeal for the first three months of the year stood at €0.76, up from €0.02 last year.
Jonas Mattsson, chief financial officer at Zeal Group, said: “It has been a strong start to 2018 for Zeal.
“Our active strategy of building a more diverse portfolio is paying off, with a larger range of higher jackpot products driving increased customers, spend and billings.”
The results come as Zeal’s MyLotto24 launches a synthetic lottery service in Australia.
The company has obtained a licence from the Northern Territory and also set up a deal with the Victorian Newsagents Association to allow newsagents to offer its products via VANA's Nparcel payment system.
Related article: Zeal’s MyLotto24 to launch in Australia