Profits jumped 32 percent to $3 billion from a 15.6 percent jump in revenues to $50.77 billion at Jamaica’s leading gaming company, Supreme Ventures, for 2022 over 2021, following a virtual stagnation in profits since 2019.
Supreme Ventures moved up from $24.25 at the end of last week to over $30.50 after the results.
Gross profit rose 20 percent to $11.3 billion, from $9.38 billion in 2021, as direct cost climbed slower than revenues, with a 14.4 percent increase in direct cost to $39.6 billion from $34.6 billion in 2021.
Selling, general and administrative expenses increased by 13 percent to $7 billion from $6.2 billion in 2021 and finance cost jumped to $535 million from just $30 million in 2021 was reduced by $374 million foreign exchange gains in 2021 compared with a loss of $82 million in 2022. Taxation fell to $781 million from $951 million in 2021, with the reduction due mainly to a credit of $203 million relating to losses at a subsidiary that was recognized in 2022.
“We have maintained our ongoing focus on managing costs”. “Our successful implementation of significant cost-saving initiatives has allowed us to continue our investment in the buildout of the company’s infrastructure,” the chairman Gary Peart advised shareholders in his update on the Group’s performance for 2022.
Segment results show the Lottery division generating a 19 percent increase in revenues to $23.6 billion and a profit of $5.1 billion compared with $19.85 billion and a segment profit of $3.28 billion in 2021. Sports Betting delivered a 20 percent rise in revenues of $14.4 billion for 2022 versus $12 billion in 2021 with a profit of $1.17 billion in 2022, up from $681 million, revenues for Pin Codes rose just 6 percent to $12.3 billion up from $11.6 billion with a profit of $333 million up from $214 million for 2021.
Gary Peart, Chairman
Current assets slipped from $7.6 billion in 2021 to $7 billion in 2022, while current liabilities climbed from $5.15 billion to $6.8 billion, primarily due to a $1.1 billion increase in prize and other liabilities owing. Shareholders’ equity rose to $4.69 billion, borrowed funding amounts to $5.8 billion due beyond a year and amounts due within a year stand at $540 million.
Earnings per share for the year amount to $1.15 is up from 87 cents in 2021, ICInsider.com projects earnings of $1.50 per share for 2023, with the price of the stock currently trading at $30, now at PE of 20 times earnings.
The Group paid four dividends of 67 cents last year, amounting to $2.45 billion, up from $2.1 billion in 2021 and just announced an interim dividend due to be paid in April of 34 cents per share, that will bring the total payment per share to $1.01 or 88 percent of profit.
The Group generated positive cash flows from operations of $3.66 billion to close 2022, with a cash and bank balance of $2.97 billion, representing a decrease from $44 billion at the end of the prior year.
“Digital innovations such as our lottery online platform SV Games, access to sports betting online through Just Bet Mobile, casino type games with Acropolis Online and horseracing through MBet are all growing mobile channels, from which we expect great things to continue. Our flagship lottery products continue to grow and the rebirth of the Instants product, “Scratchaz” has been an overwhelming success, introducing new market segments to the gaming sector. In addition, SVL has introduced the universal top up channel, “Charge Up”, which will ultimately become the source of top up for a variety of products and services from education to transportation. The SVL group’s digitization is comprehensive and its potential for growth is exponential,“ Peart informed investors.
Trading climbed to 454,057 shares for $7,929,953, compared with 1,467,927 units for $8,272,610 on Wednesday.
At the close, Angostura Holdings closed trading of 5,740 shares at $24.50, Ansa McAl traded three shares after the price popped $1.20 to $52, Calypso Macro Index Fund slipped 1 cent to end at $20.75 after investors traded 1,143 units. First Citizens Group dipped 1 cent in ending at $50 with an exchange of 6,295 stocks, FirstCaribbean International Bank fell by 10 cents in ending at $7.15, with 1,523 stock units clearing the market. Guardian Holdings had an exchange of 2,001 shares after dropping 94 cents to close at $25.05, Guardian Media ended with an exchange of 4,080 units after dropping 10 cents to close at $2.20, GraceKennedy popped 2 cents in ending at $4.48 after an exchange of 3,400 units, JMMB Group lost 3 cents to close at a 52 weeks’ low of $1.67 with a transfer of 40,686 shares, Massy Holdings ended at $4.50 after an exchange of 56,239 stock units.
NCB Financial traded 12,505 shares and fell 25 cents to $3.50, National Enterprises had an exchange of 59,780 stocks in closing at $3.55 after a fall of 15 cents, National Flour rose 10 cents in trading 37 shares to $1.50. One Caribbean Media closed at $3.70, with 20 units changing hands, Prestige Holdings ended at $7.40 in switching ownership of 157 shares. Republic Financial closed at $138 after 23,150 shares crossed the market, Scotiabank ended at $77.95 while exchanging just six stock units, Trinidad and Tobago NGL had an exchange of 11,077 shares after slipping 1 cent to end at $20, Trinidad Cement traded 500 stock units in closing at $3.52, Unilever Caribbean ended trading at $14.79 after rising 4 cents with an exchange of 218,012 stocks and West Indian Tobacco added 20 cents to end at $16.75 after trading 7,703 shares.
Trading climbed to 1,467,927 shares for $8,272,610, up from 257,799 stock units at $4,379,273 on Tuesday.
Investor’s Choice bid-offer indicator shows four stocks ending with bids higher than their last selling prices and one with a lower offer.
NCB Financial traded 1,110 shares and fell 14 cents to close at $3.75, National Enterprises had an exchange of 81,296 stocks in closing at $3.70, National Flour lost 10 cents in trading 3,401 shares at $1.40. One Caribbean Media gained 14 cents to end at $3.70, with 16,500 units changing hands, Prestige Holdings ended at $7.40 in switching ownership of 405 shares. Point Lisas traded 92,463 shares and gained 1 cent to close at $3.60, Republic Financial closed at $138 after 8,554 shares crossed the market, Scotiabank fell 5 cents to $77.95 while exchanging 1,504 stock units, investors in Trinidad and Tobago NGL swapped 13,424 after slipping 4 cents to end at $$20.01, Unilever Caribbean ended trading at $14.75 with an exchange of 1,050 stocks and West Indian Tobacco added 4 cents to end at $16.55 after trading 2,947 shares.
trading compared with 16 on Monday, with six stocks rising, nine declining and five remaining unchanged.
Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and one with a lower offer.
Massy Holdings fell 4 cents to $4.51 after an exchange of 100,652 stock units, National Enterprises had an exchange of 10,435 stocks in closing at $3.70 after slipping by 2 cents, National Flour traded 300 shares at $1.50. One Caribbean Media gained 1 cent to end at $3.56, with 19,789 units changing hands, Prestige Holdings shed 9 cents in ending at $7.40 in switching ownership of 321 shares. Republic Financial closed at $138 after 12,009 shares crossed the market, Scotiabank remained at $78 while exchanging just 2,043 stock units, investors in Trinidad and Tobago NGL swapped 53,774 with a rise of 4 cents to end at $$20.04, Unilever Caribbean rose 25 cents in ending at $14.75 while 4,255 stocks passed through the market and West Indian Tobacco fell 28 cents to end at $16.51 after trading 10,703 shares.
Trading climbed to 131,348 shares for $1,504,412 up from 110,426 stock units at $1,177,661 on Friday.
Investor’s Choice bid-offer indicator shows four stocks ended with bids higher than their last selling prices and two with lower offers.
Massy Holdings ended market activity at $4.55 after an exchange of 29,148 stock units, National Enterprises had an exchange of 1,327 stocks in closing at $3.72 after slipping by a cent, NCB Financial fell 1 cent to $3.89, with 855 stock units crossing the market. One Caribbean Media gained 5 cents to end at $3.55, with 5,350 units changing hands, Prestige Holdings remained at $7.49 in switching ownership of 55 shares. Republic Financial closed at $138 after 3,021 shares crossed the market, Scotiabank remained at $78 while exchanging just 18 stock units and Trinidad Cement lost 3 cents in ending at $3.51 while 1,330 stocks passed through the market.
Trading dipped to 110,426 shares for $1,177,661 down from 144,329 stock units at $2,249,219 on Thursday. An average of 6,496 shares were traded at $69,274 compared to 7,216 shares at $112,461 on Thursday. Trading for the month to date averaged 22,190 shares at $231,441 versus 23,016 units at $239,976 on the previous day. The average trade for February was 51,996 shares at $458,520.
At the close, Ansa McAl declined 2 cents to $50.83 after trading 162 shares, First Citizens Group ended at $50 with an exchange of 1,912 stocks, FirstCaribbean International Bank popped 1 cent to end at $7.15, with 8,207 stock units clearing the market. Guardian Holdings popped 45 cents in ending at $25.50 after an exchange of 4,332 units, JMMB Group remained at $1.75 with a transfer of 6,734 shares, L.J. Williams B share fell 17 cents to close at $2.56 after investors traded 10,000 units. Massy Holdings lost 10 cents to end at $4.55 after an exchange of 5,846 stock units, National Enterprises had an exchange of 53,739 stocks in closing at $3.73, NCB Financial rose 5 cents to $3.90, with 161 stock units crossing the market. 
One Caribbean Media remained at $3.50, with 5,000 units changing hands, Point Lisas ended trading at $3.59 with the swapping of 50 stocks, Prestige Holdings remained at $7.49 in switching ownership of 362 shares. Republic Financial closed trading at $138, with 1,820 shares crossing the market, Scotiabank ended at $78 while exchanging 2,690 stock units, Trinidad & Tobago NGL ended at $20.01 while 1,330 stocks passed through the market. Unilever Caribbean dipped 15 cents to $14.50 after an exchange of 145 units and West Indian Tobacco shed 21 cents to end at $16.79 as investors traded 7,936 stocks.
At the close, 144,329 shares were exchanged for $2,249,219, versus 247,249 stock units at $8,495,104 on Wednesday.
At the close, Agostini’s rose $1.25 to end at $59.75 in an exchange of 200 shares, Ansa Merchant Bank shed 20 cents in closing at $45.80 after 100 stocks were traded, First Citizens Group ended trading at $50 after 3,403 units changed hands. FirstCaribbean International Bank had trading in 120 stock units at $7.14, GraceKennedy dipped 10 cents to close at $4.60, with an exchange of 13,814 units, Guardian Holdings closed at $25.05 in trading 204 shares. JMMB Group fell 10 cents in closing at $1.75 while exchanging 7,660 stock units, L.J. Williams B share remained at $2.73 with the swapping of 20 stocks, Massy Holdings rallied 15 cents to $4.65 as investors exchanged 24,361 stocks. National Enterprises ended trading at $3.73 with an exchange of 23,940 shares, National Flour Mills remained at $1.50 after a transfer of 10 stock units, NCB Financial advanced 45 cents to $3.85 in switching ownership of 6,215 units.
Point Lisas popped 1 cent to end at $3.59, with 187 shares crossing the exchange, Prestige Holdings closed trading at $7.49, with 703 stocks crossing the market, Republic Financial remained at $138 after exchanging 3,102 units. Scotiabank lost 15 cents to end at $78 with investors transferring 4,864 stock units, Trinidad & Tobago NGL had an exchange of 5,000 stocks after ending at $20.01, Trinidad Cement popped 3 cents in ending at $3.54, with 20 stock units crossing the market. Unilever Caribbean remained at $14.65 after trading 1,031 units and West Indian Tobacco declined 5 cents to close at $17 with a transfer of 49,375 shares.
Investors traded 247,249 shares in exchange for $8,495,104 compared with 309,122 units at $2,736,260 on Tuesday.
At the close, Agostini’s fell 1 cent in closing at $58.50 after a transfer of 3,645 shares, Angostura Holdings dipped 45 cents to $23.12, with 1,980 stocks changing hands, Ansa McAl remained at $50.85 with investors transferring 276 stock units. Calypso Macro Investment Fund popped 25 cents to close at $22 in an exchange of 530 units, First Citizens Group slipped 1 cent to $50, with 128,511 units passing through the market, FirstCaribbean International Bank dipped 1 cent to $7.14 while exchanging 11 stocks. GraceKennedy had an exchange of 2,711 shares at $4.70, Guardian Holdings shed 1 cent in closing at $25.05 after trading 23,097 stock units, JMMB Group rose 10 cents to $1.85, with 1,500 stock units crossing the exchange. L.J. Williams B share increased 17 cents in ending at $2.73 after trading 293 stocks, Massy Holdings lost 5 cents to close at $4.50 in an exchange of 4,070 units, National Enterprises remained at $3.73 in switching ownership of 55,881 shares. 
NCB Financial lost 50 cents to end at $3.40 with 3,752 stock units clearing the market, One Caribbean Media declined 20 cents in closing at $3.50 after 5,000 shares were traded, Prestige Holdings dipped 1 cent to $7.49, with 160 stocks changing hands. Republic Financial had an exchange of 4,672 units at $138, Scotiabank shed 2 cents to end at $78.15, with 1,069 shares crossing the market and Trinidad & Tobago NGL dipped 4 cents ending at $20.01 as investors exchanged 10,091 stock units.
Investors exchanged 309,122 shares for $2,736,260, up from 129,513 stock units at $2,172,869 on Monday.
First Citizens Group rose 1 cent to end at $50.01 with a transfer of 6,067 stock units. FirstCaribbean International Bank popped 10 cents to $7.15 with the swapping of 16,501 shares, Guardian Holdings remained at $25.06 after an exchange of 44,732 stock units, Guardian Media remained at $2.20 with 1,000 stocks changing hands. L.J. Williams B share fell 17 cents to $2.56 after trading 10,000 units, Massy Holdings climbed 5 cents to close at $4.55 in an exchange of 141,781 shares, National Enterprises saw trading in 7,234 units at $3.73. National Flour Mills remained at $1.50 in an exchange of 31,552 stocks, One Caribbean Media closed at $3.70, with 2,010 shares crossing the exchange, Point Lisas dropped 2 cents to $3.58, with 40,731 stock units crossing the market. 
Prestige Holdings increased 5 cents to $7.50 as investors exchanged 70 stock units, Republic Financial ended at $138 after an exchange of 1,078 stocks, Scotiabank rallied 2 cents to close at $78.17 while exchanging 161 shares. Trinidad & Tobago NGL advanced 3 cents to close at $20.05 with a transfer of 791 units, Trinidad Cement lost 4 cents to end at $3.51 in switching ownership of 1,500 shares, Unilever Caribbean remained at $14.65 in trading 489 stock units and West Indian Tobacco gained 3 cents in ending at $17.05, with 2,000 units changing hands.
Investors traded 129,513 shares for $2,172,869 versus 250,020 stocks at $2,461,630 on Friday.
At the close, Angostura Holdings shed $1.22 to end at $23.57, with 1,994 shares crossing the exchange, Ansa McAl dipped 15 cents to close at $50.85 in trading 59 stock units, Calypso Macro Investment Fund declined $1.25 in closing at $21.75 after an exchange of 150 stocks. First Citizens Group slipped 5 cents to $50 after 6,169 units changed hands, FirstCaribbean International Bank dropped 10 cents to $7.05 as 6,414 units passed through the market, GraceKennedy fell 4 cents to $4.70 with 60 stocks changing hands. Guardian Holdings remained at $25.06 while exchanging 18,105 shares, JMMB Group increased 4 cents to $1.75 after 3,800 stock units were traded, Massy Holdings ended at $4.50 after an exchange of 41,050 shares. 
National Enterprises remained at $3.73 after investors swapped 25,930 stocks, NCB Financial shed 10 cents to close at a 52 weeks’ low of $3.90 with an exchange of 4,660 units, Prestige Holdings lost 5 cents to close at $7.45 with investors transferring 1,750 stock units. Republic Financial ended at $138 after a transfer of 5,168 shares, Scotiabank fell 15 cents to $78.15 with an exchange of 871 units, Trinidad & Tobago NGL declined 66 cents in closing at $20.02 in switching ownership of 1,100 stocks. Trinidad Cement rose 4 cents to end at $3.55 as investors exchanged 1,384 stock units, Unilever Caribbean dipped 14 cents in closing at $14.65 after 743 stock units were exchanged and West Indian Tobacco dipped 1 cent ending at $17.02, with 10,106 shares crossing the market.
