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Tabcorp Warns of Slow Start

AUSTRALIA – As reported by the Australia 7 News: "Tabcorp Holdings Ltd has experienced a slow start to 2005/06 amid weaker consumer sentiment linked to higher fuel prices, a dispute over thoroughbred racing coverage and new smoking bans.

"The news and a resulting change to its profit guidance sent shares in Australia's largest gambling company tumbling five per cent lower.

"Tabcorp managing director Matthew Slatter said the company's revenue position so far in 2005/06 had deteriorated slightly from last financial year.

"…Within the wagering division, Tabcorp's broadcasting dispute with the Victorian and Sydney racing clubs was a further contributor to the 'relatively weak' performance, Mr Slatter said.

"…Mr Slatter forecast that Tabcorp would deliver earnings per share (EPS) growth of around five per cent in 2005/06…"

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