Matthew Davey
President & Executive Chairman
Okay. I’d like to thank everyone for joining us today on our Full Year 2026 Results Webinar. It’s been a privilege to deliver the full year results to our shareholders over the last 12 months. I want to make just one point clear on the outset that today’s session is focused on the results. We’ll keep to that on the Tabcorp announcement, everything we’ve had to say in the announcement on August 10 has been said. The Board has unanimously recommended the scheme subject to the independent experts concluding it is in the shareholders’ best interest, and there’s no superior bid. Shareholders will receive the scheme booklet, including the expert’s report later this year, and that’s the document to make a decision on. I’m not going to add anything beyond that on today’s announcement.
Do you want to flip to the key slide here. Perfect. So over the last 12 months, the company has continued to deliver against the operating turnaround that we set in place several years ago. This is most dramatically shown through the positive EBITDA, up over 200% to $14.1 million over the last 12 months. In addition to that, revenue has grown at double digits on a constant currency basis. We’re proud of that. The racing industry is a difficult industry. And in some parts, it’s experiencing contraction. Other parts, it’s experiencing growth, and the company was able to deliver a solid growth in the top line.
In addition to that, gross margin also improved. We put forward long-term objectives of getting to a 70% gross profit margin. We