For the three months ended March 2017, Supreme Ventures Limited (SVL) reported a 20% increase in Revenues to total $13.39 billion, up from $11.19 billion in 2016. The Group’s increase in Total Revenue was due to increases in the Lottery, Gaming Hospitality and Pin Codes segments and the addition of the Horseracing segment.
Revenues from the company’s segments were as follows:
Lottery – $10.43 billion (2016: $8.83 billion)
Sports Betting – $156.72 million (2016: $209.44 million)
Horseracing – $328.1 million (2016: Nil)
Gaming – $114.13 million (2016: $98.94 million)
Pin codes – $2.35 billion (2016: $2.01 billion)
Others – $1.93 million (2016: $22.32 million)
Direct Expenses increased by 21%, amounting to $12.17 billion (2016:$10.03 billion).
As a result, Gross Profits increased by 6% from $1.16 billion for the first quarter of 2016 to $1.22 billion in 2017.
Operating Expenses declined by 12% for the period to $673.54 million relative to $762.94 million in 2016.
As such, Profit from Operations grew year over year to total $548.52 million in contrast to the $393.53 million recorded last year, a 39% improvement.
Interest Income declined by 15% to $18.31 million (2016: $21.42 million); while Finance Costs grew to total $8.78 million from $341,000 in 2016. A Net Foreign Exchange Loss of $1.43 million was recorded for the period relative to $334,000 million in 2016.
Profit before Taxation from Continuing Operations amounted to $556.62 million in 2017, moving from $414.94 million in 2016.
After deducting $140.71 million in taxes (2016: $139.6 million), Net Profit amounted to $418.34 million, a 52% increase on the $275.34 million recorded in the first three months of 2016.
Earnings per share totaled $0.158 (2016: $0.104) while the twelve month trailing EPS amounted to $0.50. The number of shares used in our calculations 2,637,254,926 units.
Balance Sheet at a glance:
As at March 31, 2017, Supreme Ventures Limited had Assets totaling $6.20 billion relative to $5.43 billion a year prior. The increase in Total Assets was largely due to a decrease in ‘Cash and Cash Equivalent’ which moved from $1.5 billion to $1.99 billion.
Shareholders Equity amounted to $3.98 billion (2016:$3.80 billion) with a book value per share of $1.51 (2016: $1.37).
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