April 26, 2024
Supreme Ventures Limited (SVL)
Unaudited financials for the first quarter ended March 31, 2024:
Supreme Ventures Limited (SVL)
Unaudited financials for the first quarter ended March 31, 2024:
Supreme Ventures Limited (SVL), for the first quarter ended March 31, 2024, reported a 2% increase in Total Gaming Income from $12.86 billion in 2023 to $13.08 billion in 2023. Revenues from the Company’s segments for the three months were as follows:
• Revenue from non-fixed odd wagering games, horse racing and pin codes increased 5% to $7.88 billion (2023: $7.53 billion).
• Income from fixed odd wagering games, net of prizes decreased 3% to $5.20 billion (2023: $5.34 billion).
Direct Expenses for the period increased 1% to $10.12 billion (2023: $10.05 billion).
Gross Profit for the quarter ended March 31, 2024, increased 9% to $3.10 billion (2023: $2.84 billion).
Selling, general and administrative expenses for the three months decreased 10% to $1.68 billion (2023: $1.86 billion).
Other Income for the three months amounted to $278,000 (2023: $84.99 million).
Operating Profit for the quarter ended March 31, 2024, increased 34% to $1.43 billion (2023: $1.07 billion).
Finance Costs for the three months increased 57% to $225.84 million (2023: $143.64 million).
Profit before taxation for the three months increased 30% to $1.20 billion (2023: $924.06 million).
Taxation for the three months increased 57% to $334.00 million (2023: $212.10 million).
Net profit for the quarter ended 31, 2024, amounted to $867.95 million (2023: $711.96 million).
Profit Attributable to shareholders for the three months increased 22% to $854.09 million (2023: $701.42 million).
Consequently, Earnings Per Share for the three months amounted to $0.32 (2023: EPS: $0.27). The twelve month trailing EPS was $0.98, and the number of shares used in these calculations was 2,637,254,926. Notably, SVL’s stock price closed the trading period on April 25, 2024, at a price of $23.50 with a corresponding P/E ratio of 24.09x.
Balance Sheet Highlights
The company’s assets totalled $22.15 billion (2023: $18.49 billion). The growth in total assets was particularly due to upticks in ‘Trade and other receivables’ by 35% to close at $4.08 billion and ‘Financial assets at fair value’ by 180% to close at $1.64 billion.
Shareholder’s equity was $5.12 billion (2023: $5.39 billion), representing a book value per share of $1.94 (2023: $2.04).
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