Tipp24 surpasses forecasts for FY2011
Earnings 12m ahead of adjusted forecasts
German lottery provider Tipp24 has surpassed its own forecasts for 2011 and posted record results for the second year running.
The company’s unaudited results for FY2011 show consolidated sales of around 142m, 36% up on 2010’s 104.4m and ahead of the adjusted forecast of 130m for the year. Earnings before interest and taxes (EBIT) increased significantly to an estimated 50m, 10m higher than the predicted figure, and 64% higher than 2010’s EBIT of 30.3m.
Tipp24 chairman Dr Hans Cornehl commented: “In a constantly changing environment Tipp24 has been able to create sustainable growth in sales and earnings, posting record results in each of its twelve financial years. As a result the company is well-positioned to achieve its core objectives.”
The company will announce its forecast for 2012 at a press conference on 28 March.