SVL Records Strong Profit Supported By A Rise In Gaming Income
- Supreme Ventures Limited (SVL) reported a net profit attributed to owners of the parent company of $2.04Bn for its nine months ended September 30, 2022, which represents a 34.3% or $520.97 increase relative to the prior period.
- This was supported by an 18.3% increase in gaming income. All three of its main gaming segments, lotteries, sports betting and Pin codes, saw revenue increases of 21%, 146% and 8% respectively.
- The Group continues to focus on improving its business segments as well as launching products through its retail channel. Management has also highlighted that it continues to build out its business in Guyana and add improvements to its horse racing product through technological and new product initiatives.
- Going forward, management expects to see further growth fueled by new games and initiatives along with the continued expansion in the mobile and online gaming space. SVL’s stock price has increased by 53.78% since the start of the calendar year. The stock closed Thursday’s trading session at $27.36 and currently trades at a P/E of 25.7x.
(Sources: Company Financials and NCBCM Research)