Jumbo releases profit guidance post Manaccom

Jumbo Interactive has announced its net profit guidance for the 2011 financial year to be between $4 million to $4.4 million. 

In the previous year, Jumbo reported a net loss of $7.3 million, which included write downs and restructuring of its software distribution business Manaccom. 

Manaccom was placed into administration on March 1 

The 2011 guidance included once off costs and trading losses from the discontinued software business Manaccom. 

Jumbo expected revenue in the range of $75 million to $80 million for the 2011 year driven by the company’s internet lottery business and expected revenues to grow further in the second half.