Search
Close this search box.

SVL Met with Brokerage Community

Supreme Ventures Limited met with members of the Brokerage community on Monday, January 21, 2008, to share highlights of its Audited Financial Statements for the year ended 31st October 2007.

Brokerage Representatives who attended were: JMMB, NCB Capital Markets, Barita Investments, Sterling Asset Management, Stocks & Securities Limited, Guardian Asset Management, Mayberry Investments and PanCarribean Financial Services.

Mr. Brian George, President & CEO of Supreme Ventures Limited shared with the Brokers, some of the challenges experienced in the 2007 financial year. These included:

         High Cash Pot game liabilities (which had a direct impact on profitability)

         Write-offs with respect to the planned expansion of gaming lounges in Trinidad (due to the fact that their Government has announced plans to curtail the expansion of gaming)

Mr. George also shared plans with respect to the outlook for 2008:

         The addition of more game patterns to the Bingo game launched in October 2007

         Refreshing the Lucky5 & Lotto games

         Projection of $752M net profit for 2008

 

He also advised the Brokers that the Board of Directors is positive about honouring the dividend policy proposed in the company’s IPO document of 2006. As such, he is hopeful that a 35-37% dividend of net profit will be declared on the 2007 financial results.

 

Sonia Davidson
Vice President – Group Corporate Communications, Supreme Ventures Limited
Tel: (876) 754-6526