Another record year for SVL with $2.5b net profit
Chairman of Supreme Ventures Limited, Gary Peart.
Supreme Ventures Limited (SVL) continued its growth trajectory in 2019, with net profits of $2.5 billion.
The performance represents an 18 per cent increase over 2018, which SVL’s chairman, Gary Peart, says was also a record-breaking year.
Speaking at the company’s annual general meeting on Thursday, Peart said the growth seen in 2019 was in keeping with measures taken by management to extend the reach of the company and provide greater value for shareholders.
These measures include innovations in technology, re-energising the brand and excellent customer experience, project deliverables to increase market share through new channels, increasing products and customers, mobile adaptation and market share in sports betting.
“In other words, we promised to diversify our risks and change the game with our revolutionary products and we have done just that. The team delivered strong results, keeping focussed on the strategic objectives,” Peart said.
Among the records that were shattered by the SVL in 2019 is $73 billion in ticket sales, which increased by 16 per cent and goes up by $10 billion from the previous year, with customers receiving winnings of over $50 billion.
Peart said that SVL had a revenue increase of 16 per cent in 2019 with the EBITDA (earnings before interests, taxes, depreciation and amortisation) increasing by $4 billion and the earnings per share (EPS) jumping by 13 cents to $92.59.
SVL’s asset in 2019 increased by $9.4 billion, which is an increase of 40 per cent, while shareholders equity increased by 411 million to 3.7 billion when compared to 2018.
The company also increased its shareholders by 24 per cent, which a continuation of growth from 2017, when SVL had 3,500 shareholders. This grew in 2018 to 4,300 and 5,343 in 2019.
The dividends paid for 2019 was $2.1 billion, up from $2 billion in 2018, a year in which several special dividends were paid.