Half Year Results Well Up on Previous Year

NZ Lotteries Half Year Results Well Up on Previous Year

NZ Lotteries has posted a strong result for the six months ended 31 December 2005, NZ Lotteries Chair John Goulter announced today.

The results were released in the NZ Lotteries 2006 Half Year Report today.

"Sales, for the period, of $359.2 million were $40 million ahead of the same period last year, an increase of 12.5 %.

"The net surplus for the half year was $79 million, up 14% on last year.

"The result reflects the introduction of Big Wednesday1, and higher Lotto family sales which benefited from some large Powerball jackpot runs," said Mr Goulter.

The increase in the number of outlets selling NZ Lotteries products has also had a positive effect on sales. At the end of December 2005 there were 830 lottery outlets compared with 700 at the same time last year and 756 at the end of the 2004/2005 year. In the same period 95 existing stores were refurbished using the new-look format, and more than half the network now has the new format.

"Our new mid-week jackpotting game Big Wednesday, has been well received since its launch by players and retailers. Initial sales have exceeded our expectations and we are encouraged to note that sales have not significantly impacted on the Lotto family or Instant Kiwi games.

"Sixty-five players won Lotto First Division, with one player winning the largest individual lottery prize ever won from Lotto First Division and Powerball, worth $15.2 million.

"There were 55 winners of prizes valued up to $1 million in Lotto's Christmas promotion, 27 Winning Wheel winners, averaging $200,000 per win, including two players who spun and won $1 million each," said Mr Goulter.

In January 2006 Trevor Hall advised that he would be resigning from his position as Chief Executive. Mr Goulter says the Board wishes Trevor well in his endeavours.

ENDS

1. Big Wednesday went on sale on 17 October 2005 and the first draw was held on 26 October 2005.

The NZ Lotteries 2006 Half Year Report can be viewed at:
www.nzlotteries.co.nz/Newsroom/MediaKit/CorporatePublications.aspx

© Scoop Media