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AfricaMoney | August 19, 2017

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Lottotech sees revenues up 17.57% for the nine months ended 30 September 2014

Lottotech sees revenues up 17.57% for the nine months ended 30 September 2014

Besides, profit for the quarter climbed to Rs 21.01 million against Rs 19.39 million a year-ago, showing 8.36% rise over the previous year’s figures. (Image: Grand Baie)

Mauritius gaming major Lottotech declared strong financial performance for the nine months ended 30 September 2014 with revenues rose 17.57% to Rs 2.11 billion against Rs 1.80 billion a year-ago, even as profit for the period rose a whopping 99.49% to Rs 134.51 million from Rs 67.43 million a year-ago.

Accordingly, Lottotech saw revenues declined 4.56% to Rs 533.16 million for the quarter ended 30 September 2014, against Rs 558.66 million from the corresponding period of 2013.

Besides, profit for the quarter climbed to Rs 21.01 million against Rs 19.39 million a year-ago, showing 8.36% rise over the previous year’s figures.

“Overall for the nine months ended 30 September 2014, the company has delivered a strong financial performance. For the quarter ended 30 September 2014, Loto sales were in line with the company’s target,” the management declared in the financial statement.

However, the management observed that the performance of the instant game category was below expectations for  the quarter ended 30 September 2014.

Moreover, management indicated that the earning per share would be computed on the basis of the shares issued under the 3400-for-1 share split which took place in March this year, leading to the profit of Rs 134.51 million being divided among the 340,000,000 issued shares.

The management concluded on the note that an interim dividend of Rs112,200,000  was declared and paid during the period under review.

About Lottotech:

In May 2008, Lottotech Ltd, in collaboration with its American partner, GTECH, supplier of equipments and world leader in the gaming sector, meets the conditions of call for tender of State Investment Corporation (SIC) initiator of the launch in Mauritius and Rodrigues, of a national lottery.

In April 2009, in partnership with SIC, Lottotech Ltd obtains officially the operating license of the National Lottery and begins its mission with a double objective: to satisfy a legitimate demand by offering  a quality entertainment to the Mauritians and contributing to great national causes, beneficial to the company, namely, health, education, sport and culture.

 

 

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