Talarius enjoys reversal of fortunes

29/08/2011

Tatts Group’s end of year results have shown a major reversal in fortunes for its UK subsidiary Talarius, the biggest player in the Adult Gaming Centre sector.

Talarius broke even at EBITDA, turning around a £2.2m loss in FY10, in spite of the difficult economic climate and a £1million hit created by the Government’s VAT increase.

Talarius’ FY11 results have shown the first period of sustained growth since the Tatts Group took over the business three years ago and the first two months of FY12 suggest even better signs for the business with real growth of 5.1%.

This strong period means Talarius is well placed to respond to market opportunities in the gambling sector. Chief Executive, Peter Harvey explains: “We have received a ringing endorsement from our parent business, Tatts who has recognised our strong performance in difficult economic conditions. Our continuing growth and strong balance sheet puts us in an ideal position to look for acquisition opportunities across the gambling sector.”

A successful period of restructuring which saw the closure of almost 50 (22%) unprofitable venues has seen a fall in revenue from £50m to £45.4m (9%), but a considerable increase in profit.

 

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