Tattersall's 'well positioned for FY08'

"The Tatts group is now well positioned for FY2008 and beyond with a strong balance sheet and steady cash flows," the company said.

"Notwithstanding additional regulatory restrictions and the increased health benefit levy imposed by the Victorian government on Tatts Pokies, the company's focus on operational efficiencies and a full year contribution from Golden Casket offer us the opportunity to generate strong cash flows and grow profits in FY08.

"Consequently, we are in a position to maintain our high dividend payout ratio whilst simultaneously using the strength of our balance sheet to secure and extend our current business portfolio."

Revenue for ordinary activities for the year to June 30, 2007, rose 30.3 per cent to $2.42 billion.

The company declared a final dividend of 10 cents per share compared to 7.5 cents in the prior corresponding period.

Tattersall's also declared a special dividend of four cents per share arising from the settlement of the Trustee Commission claim.

The total dividend for the fiscal 2007 was 22 cents per share, compared to 16.25 cents in the prior year.

Tattersall's merged with Queensland wagering group Unitab Ltd in October 2006.

Tattersall's reported net profit reflected the contribution of Unitab from the merger date.

Pro forma net profit rose 15.2 per cent to $248.4 million, reflecting the full 12 months results for the Unitab businesses, and excluded merger integration costs and exceptional items.

Tattersall's said fiscal 2007 had been a "company-changing year".

"The merger with Unitab, a restructuring of the business into discrete business operating units, a sharper commercial focus within the business, and a number of acquisitions and disposals has reshaped the company without impairing its capacity to seize any opportunities which might emerge within the near term," Tattersall's said.