Daily Market Summary- August 14, 2017
Please click below to view today’s Daily Market Summary. Daily Market Summary 14.08.17 The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
SVL reports a 41% increase in Net profit for six month 2017
Supreme Ventures Limited (SVL) reported a 23.5% in revenues from $27.37 billion for the 2017 period, up from $22.15 billion in 2016. While for the second quarter revenues totaled $13.98 million relative to $10.96 million in 2016. Revenues from the company’s segments were as follows: Lottery - $20.22 billion (2016:$17.41 billion), a 16.1% increase. According to SVL “the improvement in the lottery segment was due mainly to increased segment revenue gross profits, impacted by higher prize payouts particularly in the cash pot game.” Sports Betting - $317.62 million (2016:$393.46 million) a 19.3% decline. The company highlighted that this “results for
RJR records three month net loss of $47.30 million
Radio Jamaica Limited (RJR) For the three months ended June 30, 2017 Revenue for the first quarter of 2017 declined by 6.84% from $1.31 billion in 2016 to $1.22 billion. Direct expenses increased by 1.37% to $635.52 million in 2017 (2016:$626.92 million). The company stated that this was due to “increased fees associated with expanding 1spotmedia, as well as the impact of contractual obligations for salary increases to staff”. As such, gross profit amounted to $583.64 million relative to $681.82 million for the corresponding period in 2016. Operating costs declined for the period under review by 1.3% to $661.87 million