All Components Of The SVL’s Horse Racing Business Showing An Upward Trend – Young Sang
Ann Dawn Young Sang, CEO of Supreme Ventures Limited is reporting that revenues from all components of the Group’s Horse Racing business are showing an upward trend, and that the Group has a strategic plan aimed at capitalizing on the growth and synergistic opportunities within the business.
Young Sang indicated, in her report to shareholders for the 2017 financial year, that they were confident about the future viability of the Caymanas operations, having acquired the operations of Caymanas Park in the first quarter of 2017, which saw the Group effectively investing some JA$1.2 billion in assets into the Caymanas operations.
Overall results from the Group’s non-Horse Racing segment, she said were strong, with year-over-year revenues and segment results growing by approximately 15% and 18% respectively.
For the financial year 2017, Supreme Ventures Limited, experienced significant growth with the Group achieving record revenues of approximately JA$56 billion, representing a 25% increase over 2016.
This, combined with an effective cost management programme, resulted in a 44% increase in ‘Profit from operations’, which surpassed the $2 billion mark.
The Directors have approved an ordinary dividend distribution of 12 cents per share and a special dividend of 8 cents per share to be paid out of retained earnings as at December 31, 2018.
The Group has paid out 71 cents to its shareholders in 2017, which almost doubled the 37 cents it paid out in 2016.