For many of my clients in Victoria, Tasmania, Northern Territory, ACT and though Golden Casket in Queensland Tattersall is very important.
What is good about following a public company is that they have to release their information. Clearly, Tattersall has not had a good year. I am glad I did not own any shares in them.
Unfortunately, like so many companies in the ASX, these report seems to be incomplete. For example, no mention of the growing competition from online gaming is barely mentioned. Now in the Northern Territory bookies, are turning over billions of dollars much of it I am sure is at their expense.
Also, they have so many interests that what we want in the report is buried in other figures. Considering Tattersall's importance to the industry, it is strange that an organisation like the ANF does not hire an analysist to go over these figures for us. I can assure you that Tattersall's do studies of newsagents. Like many large newsagent suppliers, they know more about newsagents than newsagents know about them. That is a big no in business.
From the report, you can see that Tattersall has suffered a huge loss to their business in Victoria and clearly they could lose more there. The move to Queensland looks like it has worked for them. I am not surprised as I know from my meetings with them, that they are good operators.
What also helped them this year was an amazing series of luck that gave them many jackpots!
Although we have no breakdown by state in the report, newsagency products have increased by 5%. Which in today's retail market is a good result? Unfortunately for us, it is unclear whether this increase was because of the large growth in Tattersall's outlets this year or because of an increase in existing shop sales.
It shows our benchmarking project importance because without it, no-one will tell you how products are moving in newsagencies. I will do an analysis of how scratchies tickets have gone in different states over the last few quarters.
If you want to join the benchmarking project and get a regular analysis of your shop please contact Nextra or our benchmarking officer Andrew Lloyd on Ph:(03) 9597-7222
