Moore misses out on new Tabcorp contract
Loss of contract for Tabcorp’s venue consumables is bad luck for Moore Australasia.
According to a statement, Tabcorp have advised Moore Australasia that the contract, which was the subject of a recent re-tendering process, will expire on 31 May 2011.
The venue consumables contract business represented approximately 21 per cent of total revenue for the twelve months to 21 December. In October, Moore (then Argus) announced a future outlook for the year ending 30 June 2011 for total revenue in the range between $54 million and $57 million, with projected earnings between $1.2 million and $2 million.
In a statement last year, it said that the ability to achieve the increase in sales would depend on the results on a number of tenders that the company has recently submitted.
The full effects of this loss of Tabcorp are yet to be determined. “The company is currently assessing the impact of this loss on the company’s future outlook and a more detailed statement will be provided once this review has been concluded,” the statement said.
Moore Australasia’s chairman, David Paterson, did not return calls.