BUSINESS

SJM Holdings boast successful full year financial results for 2011

TAGs: financial results, Macau, SJM Holdings

SJM HoldingsSJM Holdings Limited has announced its audited consolidated annual results of the company and its subsidiaries for the year ending 31 December 2011. With Net Profit increasing 49.1%, Adjusted EBITDA increasing 42.5% and Dividends for year increasing by 108.6%, the casino games operator must be smiling from ear-to-ear…again.

Speaking on the annual results, Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, said: “We are very pleased that SJM’s net profit and Adjusted EBITDA rose to record levels in 2011. These results, combined with our financial strength, enable our Board to propose an increase in dividend payments for the year of 108.6%.”

Gaming revenue earned by Sociedade de Jogos de Macau, S.A., a subsidiary of the Company, grew faster than a flower garden fed on speed-spiked fertiliser – by 32% to a record HK$75,514 million. Adjusted EBITDA of the Group grew by 42.5% to a record HK$6,923 million and profit attributable to owners of the Company grew by 49.1% to a record HK$5,308 million.

SJM also continued to lead in market share of the Macau casino gaming market, with overall gaming market share of 29%. The company bragged for a final time when it stated that it maintained a strong balance sheet, with cash and bank balances totalling HK$20.7 billion as of 31 December 2011.

As mentioned by Dr. Ambrose, a final dividend of HK43 cents per ordinary share and a special dividend of HK22 cents per Share have been proposed. If these proposed dividends are approved at the forthcoming annual general meeting of the Company, total dividends for 2011 would be HK73 cents per Share – an increase of 108.6% from 2010.

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