NZ Lotteries sales and profit up
A shake-up of lotto, including new advertising, is thought to have contributed to a rise in first half sales and profit at NZ Lotteries.
A shake-up of lotto, including new advertising, is thought to have contributed to a rise in first half sales and profit at NZ Lotteries.
The Crown entity today said it had sales of $446.2 million in the six months to December, $32.2m ahead of budget, and $46.7m ahead of the same period last year. It was also $3.9m above the previous record for a first half year set two years ago.
Profit at $87.4m was $10.9m above budget.
NZ Lotteries chief executive Todd McLeay said the latest half year performance was largely due to the launch of some key business initiatives in the period.
Changes to the lotto game were introduced in October, in part to reflect higher GST, but also to refresh the game. That included the introduction of new advertising featuring a dog.
Those changes helped drive sales of $301.3m for lotto, powerball and strike, 13.8 percent ahead of budget and 14.8 percent ahead last year, Mr McLeay said.
Sales of instant kiwi were 24.3 percent up on a year earlier at $66.8m after a relaunch at the end of the last financial year.
Lotto sales had added foot traffic for many retailers in the organisation's network in recent months, in an economy where many smaller business owners were struggling to keep afloat.
NZ Lotteries had transferred $72m to the NZ Lottery Grants Board which distributed funding to community, sports, and arts groups and individuals.
NZ Lotteries also transferred $8.25m to the board this month to go to the Christchurch earthquake relief fund, funding made possible by a special purpose draw.
The 50 lotto first division winners during the six months won $28.9m in prizes. Three players won powerball first division, including the biggest-ever prize of $28.3m.
Big Wednesday was won twice during the period, with prize packages worth $10.6m and $4.9m.
NZPA
Fri, 18 Mar 2011
Fri, 18 Mar 2011
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NZ Lotteries sales and profit up
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