Lottery sales and profits hit the jackpot

NZ Lotteries topped its previous sales and net profit records, the annual report says.

Sales for 2005-06 were $719.2 million, well above the previous best $643.7 million in 1998-99.

NZ Lotteries said it transferred $138.5 million - $15.1 million more than last year - to the Lottery Grants Board to be handed out to community groups.

It made a net profit of $145 million, up $14.6 million on last year and the largest net profit since the organisation began in 1987.

Two key factors contributed to this improved performance, the reports said: the introduction of the midweek jackpotting game Big Wednesday, plus two long Powerball jackpot runs - which resulted in wins of $15.2 million and $18 million - helping to boost ticket sales.

A total of $377 million was handed out in prizes during the year.

- NZPA