Jumbo Interactive Ltd (ASX:JIN) share price rises after delivering strong increase in profits, dividend more than doubled

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Jumbo Interactive Ltd (ASX:JIN) on Friday reported a full year profit for the 12 months ending 30th June 2018 of $11.75 million, up 55 per cent on the same period a year earlier.

On a per-share basis, the company said it had a profit of 22.7 cents. This compares with a profit of 16.9 cents per share in the corresponding period last year. The company declared a full year dividend for the period of 18.5 cents per share, an increase of 118 per cent.

“It is pleasing to see the strong increase in Revenue and NPAT from continuing operations which can be attributed largely to improved customer activity on the new software platform enabling the team to make the most of available jackpots, and operating leverage”, said Mr Mike Veverka, CEO and Founder of Jumbo Interactive. “The business is well placed for growth in the years ahead.”

In trading on Friday, Jumbo Interactive Ltd shares have gained 35 cents or 7 per cent to $5.35.

The Jumbo Interactive Ltd share price has risen 52.86 per cent since the beginning of the year, while the S&P/ASX 200 Index has gained 4.42 per cent. 

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Bruce Jackson has 30 years of hands on investing experience. He is passionate about stock market investing, running his own portfolio and SMSF. His focus is on small cap growth stocks. You can contact Bruce at brucej@thecapitalclub.com.au