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Svenska Spel Posts First Half Financial Results

Swedish betting firm Svenska Spel has released their first half financial results, noting growth in revenues and profits.

Key financial indicators for the first half ending June 30th, 2016 were:

  • Net gaming revenues of SEK 4.4 billion, up 1% from last year.
  • Consolidated operated profit up 0.9% to SEK 2.4 billion
  • Net income of SEK 2.4 billion, up 1.2%
  • Operating margins of 22.1%, slightly down from last year.
  • Second quarter profits of SEK 1.1 billion, down slightly from last year.

Commenting on his company's performance Svenska Spel CEO Lennart Kall said, "We increased net gaming revenue overall for the first half compared with the previous year. However, we saw a drop in growth, particularly during May, which affected the second quarter negatively, but from June we once again see growth."

"We will continue to strengthen customer relations further and increase the pace of innovation by delivering new experiences, new products and services where the games are to the delight of all."

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bgsharpe
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26 July 2016 - 4:43pm
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The growth of Svenska Spel revenues is almost imperceptible but a slightly progress is still a progress so I guess they wouldn't be too disappointed about those figures.

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