Margin deterioration returns to haunt Jumbo
Lucas BairdReporter
Shares in lottery operator Jumbo Interactive have fallen 10 per cent to $16.55 after an interim result that management described as pleasing underwhelmed investors amid narrowing underlying earnings margins.
The lotteries retailing arm and the UK-based Gatherwell business both saw underlying earnings before interest, tax, depreciation and amortisation (EBITDA) margins sink lower in the first half.
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