The Jumbo Interactive Ltd (ASX: JIN) share price has hit a new 52-week high in intraday trade today.
Earlier this afternoon, the Jumbo share price reached $17.84 – the highest it's been in 12 months.
At the time of writing, Jumbo shares are 6.51% higher than their previous close, swapping hands for $17.83.
Jumbo's flagship service is OzLotteries. It also runs official government and charitable lotteries.
Let's take a look at what's been driving the lottery business' shares lately.
Image source: Getty Images
The year that's been
Over the last 12 months we've heard several pieces of exciting news from Jumbo.
Firstly, the company extended its agreement with Tabcorp Holdings Limited (ASX: TAH) by another 10 years in June 2020. Under the agreement, Jumbo will continue to sell Tabcorp lottery tickets.
Then, in September, the company announced its subsidiary had made an agreement with Lotterywest. The agreement saw Jumbo providing Lotterywest with its software platform and services for the next decade.
The only time the ASX has heard price-sensitive news from Jumbo this year was when it released its half year results in February.
In the 6 months ended 31 December 2020, Jumbo reported a 26% increase in its total transaction value, raking in $233 million.
It's revenue also grew, but only by 9% to $41 million.
The company's underlying earnings before interest, tax, depreciation and amortisation (EBITDA) grew by just 3.7% to $24.1 million. And it penned a 0.5% lift in net profit after tax (before amortisation) to $16.3 million.
Despite the small gains, the Jumbo share price fell that day to close 6.9% lower than its previous session.
Since its half year results were released, the Jumbo share price has gained 31%.
Jumbo share price snapshot
It has been a good year so far on the ASX for the Jumbo share price.
Currently, Jumbo shares are 26% higher than they were at the beginning of 2021. They have also gained 77% since this time last year.
The company has a market capitalisation of around $1 billion, with approximately 62 million shares outstanding.
