EI costs Tabcorp $30 Million
Monday November 26, 2007
Gaming and wagering giant, Tabcorp, announced the cost of the horse flu would cost the company $30 million in pre-tax profits at yesterday's annual general meeting with shareholders in Sydney.
Managing director Elmer Funke Kupper said, "Our current estimate is that Equine Influenza will reduce group earnings before tax by approximately $30 million compared to last year."
"The impact of Equine Influenza will be partially offset by the performance of our Gaming business, which is performing much better than expected following the introduction of smoking bans."
Tabcorp still generated $895.5 million for 2006/07, which was down just 3 percent on last year's figures.
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