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UK – Talarius half year results show strong revenue and profit growth

By - 20 February 2015

Tatts Group has published its half year results, including those for its UK operation, Talarius, strong revenue growth of 12.3 per cent, reaching A$59.3m for the six months to 31 December 2014 and EBIT for the period increased significantly reaching A$3m, up 55.7 per cent.

Talarius operates gaming machines in high street venues and selected motorway service areas across the United Kingdom, mainly under the Quicksilver brand.

The strong results in the first half reflect the like-for-like sales growth from Talarius’ core adult gaming centre business, which has undergone significant investment over the last twenty four months as part of management’s stated long term growth strategy. The growth was driven by the refurbishment of profitable venues, a significant refreshment of the company’s machine estate and a continued commitment to enhance staff training to help meet growing customer demands.

The benefits of Talarius’ strategy to improve and modernise its venues are evident from the recent refurbishment of the Quicksilver venue in Clapham Junction. The venue benefitted from the largest refit Talarius has carried out in years, transforming it into a next generation model which sets the standard for future arcades. Improvements included an expansion of the floor space, an increase in the number of machines from around 40 to over 90 and doubling the number of staff. As a result, the modernised Quicksilver has seen an increase in customers and profitability. The refurbishment forms part of Talarius’ wider long term growth strategy to improve its venues to increase its market share and ensure Quicksilver, Silvers and Winners venues across the country are welcoming more customers through their doors.

In addition to the investment in venues, further operational progress has been achieved through focused measures, implemented from the start of 2014, to train the company’s staff to the highest standards through, for example, a new dedicated training program to develop its venue managers. As part of the extensive programme, Talarius management teams have access to a range of management development schemes including Management 1st a programme co-designed with People 1st, the skills and development charity for the leisure and hospitality industries. Initiatives such as Management 1st have given employees the skills and knowledge they need to be the best in the industry and enhance the overall operations of the business and in turn increase profitability at the company’s venues.

Peter Harvey, Chief Operating Officer at Talarius, said: “We are delighted to report another six months of excellent operational progress, continued revenue growth and increased profits. We have further cemented our position as an industry leader and continue to execute our long term strategy to modernise our venues and refresh our machine estate. It is particularly pleasing to see the benefits of our enhanced staff training programme which we implemented after identifying potential to unlock greater efficiencies and improve the operational management across our venues. As a result of these improvements, we enter the second half with a strong foundation in place and increasing confidence of delivering continued year-on-year growth in revenue and profits for full year.”

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