Profit jumped a sharp 49 percent in the quarter to March, to $618 million for Supreme Ventures from $416 million in 2017 from Sale revenues that rose 14 percent for the quarter, to $15.3 billion from $13.4 billion in 2017.
Improvement in profit margin in the in the quarter rose to 11 percent from just 6 percent in the 2017 to deliver a strong 40 percent in jump in gross to $1.7 billion, as operating cost climbed 12 percent, to $13.6 billion compared to the similar quarter in 2017.
Administrative and other expenses rose 34 percent to $903 million in the quarter from $674 million in 2017. Finance cost rose 76 percent in the quarter to $15.5 million from $8.8 million in 2017.
Supreme Ventures traded at $11.75 on the JSE on Friday.
Segment results showed mixed fortunes with Lottery showing sharp improvement in profit from $556 million to $796 million Gaming moved from a profit of $21 million to a loss of just 42 million. Horse racing losses more than doubled to $40 million from $19 million Sports betting loss fell to just $3.7 million and Pin Codes profit fell from $32 million to $23 million.
Earnings per share rose to 23.5 cents for the quarter, from 16 cents in the 2017 quarter.
Gross cash flow brought in $686 million but addition to fixed assets offset by loan inflows, tax payment and of $443 million and paying $527 million dividends led to a small net cash outflow leaving cash and equivalent at $2.25 billion.
At the end of March, shareholders’ equity stands at $3.2 billion with borrowings at just $504 million. Current assets ended the period at $5.7 billion well over current liabilities of $2 billion.
The stock traded at $11.75 on the Jamaica Stock Exchange with a PE ratio of 12 times 2018 earnings.
